Guideline Value for Sri Ganapathy Nagar

Sri Ganapathy Nagar guideline value

The current guideline value of Sri Ganapathy Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Kilay village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Sri Ganapathy Nagar has changed

Over the years, the guideline value for Sri Ganapathy Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 70 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, marking a substantial rise of 471%. However, it then decreased to Rs 268 per sq.ft in 2017, a decline of 33%. The value remained at Rs 400 per sq.ft in both 2023 and the latest revision in 2024, indicating no change between these two years. The register has no figures for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 400 per sq.ft, which has been consistent since then. Overall, from 2007 to 2024, the guideline value has increased by 471%, reflecting significant changes in the property landscape of the area.

Guideline values in Kilay

In Kilay village, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 400 per sq.ft. The median value for these streets is Rs 300 per sq.ft, making the guideline value of Sri Ganapathy Nagar above this median.

• Sri Krishna Nagar: Rs 400 per sq.ft (2024)
• Sri Mahaganapathy Nagar: Rs 400 per sq.ft (2024)
• Sri Vaari Nagar: Rs 400 per sq.ft (2024)
• SDN Agro Farms: Rs 400 per sq.ft (2024)
• Teja's The Retreat: Rs 300 per sq.ft (2024)
• Theruveedhiyamman Koil Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ganapathy Nagar?

The Sub Registrar Office that covers Sri Ganapathy Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kilay

The guideline value is a crucial factor when buying or selling property in Kilay. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during property registration.

Additionally, the guideline value helps in assessing the property's worth for taxation purposes. It is essential for potential buyers to check the guideline value before making a purchase to understand the financial implications and obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Ganapathy Nagar?

The current guideline value of Sri Ganapathy Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several revisions, with the most significant increase occurring from Rs 70 per sq.ft in 2007 to Rs 400 per sq.ft in 2012. The value has remained at Rs 400 per sq.ft since 2012, with no changes recorded in 2023 and 2024.

What is the land classification of Sri Ganapathy Nagar?

Sri Ganapathy Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Sri Ganapathy Nagar?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sri Ganapathy Nagar located?

The Sub Registrar Office for Sri Ganapathy Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.