Guideline Value for Sri Ganesh Nagar Extension

Sri Ganesh Nagar Extension guideline value

The current guideline value of Sri Ganesh Nagar Extension is Rs 510 per sq.ft, effective from 1 July 2024. This area is located in Vanchuvancheri village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Sri Ganesh Nagar Extension has changed

The guideline value for Sri Ganesh Nagar Extension has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017. The 2023 revision increased the value to Rs 500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 510 per sq.ft, marking a 2% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. From 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 2%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanchuvancheri

In Vanchuvancheri, there are 23 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 200 to Rs 700 per sq.ft. The median value among these streets is Rs 400 per sq.ft, placing Sri Ganesh Nagar Extension above that median with its current value of Rs 510 per sq.ft.

• Sri Ganesh Nagar: Rs 510 per sq.ft (2024)
• Sri Vijaya Ganapathy Nagar: Rs 510 per sq.ft (2024)
• Tambaram Kanchipuram Road: Rs 700 per sq.ft (2024)
• Theruveethi Amman Koil Street: Rs 200 per sq.ft (2024)
• Vasantham Nagar: Rs 400 per sq.ft (2024)
• Vetri Vinayagar Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganesh Nagar Extension

For a 1,000 sq.ft plot at the current rate of Rs 510 per sq.ft, the guideline value amounts to Rs 5,10,000. The stamp duty at 7% would be Rs 35,700, and the registration fee at 2% would be Rs 10,200, bringing the total cost for these fees to Rs 45,900. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ganesh Nagar Extension?

The Sub Registrar Office that covers Sri Ganesh Nagar Extension 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 Vanchuvancheri

When buying or selling property in Vanchuvancheri, the guideline value is a crucial factor in determining the registration fees and stamp duty. It serves as a reference point for the government to assess the value of the property for taxation purposes, ensuring that the fees are calculated based on a standardized value.

During the registration process, the buyer and seller must disclose the sale price, and the duty is charged on whichever is higher between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Ganesh Nagar Extension?

The current guideline value of Sri Ganesh Nagar Extension is Rs 510 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 510 per sq.ft in 2024.

What is the land classification for Sri Ganesh Nagar Extension?

The land classification for Sri Ganesh Nagar Extension is Residential Special Type - I.

Where is the Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Ganesh Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 510 per sq.ft would incur a stamp duty of Rs 35,700.