Guideline Value for Sri Ganesh Nagar

Sri Ganesh Nagar guideline value

The current guideline value of Sri Ganesh Nagar, located in Atanancheri village under the Gooduvancheri SRO, is Rs 700 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification.

How the guideline value of Sri Ganesh Nagar has changed

The guideline value for Sri Ganesh Nagar has undergone several revisions over the years. In 2007, the value was Rs 120 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a 483% increase. However, from 2012 to 2017, there was a decrease to Rs 469 per sq.ft, which represents a drop of 33%. The value then rose to Rs 700 per sq.ft in 2023, showing a 49% increase from the 2017 figure.

As of the latest revision in 2024, the guideline value remains unchanged at Rs 700 per sq.ft, indicating a 0% change from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Sri Ganesh Nagar aligns with this median.

• Sri Ganapathi Nagar Colony: Rs 800 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 800 per sq.ft (2024)
• Sri Drowpathi Amman Nagar: Rs 700 per sq.ft (2024)
• Sri Iyyappa Nagar: Rs 500 per sq.ft (2024)
• Sri Kamatchi Nagar: Rs 700 per sq.ft (2024)
• Sri Lakshmi Bala Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ganesh Nagar?

The Sub Registrar Office that covers Sri Ganesh Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Atanancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction value. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Sri Ganesh Nagar?

The current guideline value of Sri Ganesh Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 120 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, with various fluctuations in between, including a drop to Rs 469 per sq.ft in 2017.

What is the land classification of Sri Ganesh Nagar?

Sri Ganesh Nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, on a property valued at Rs 7,00,000, the total fees would amount to Rs 63,000.

Which office handles registrations for Sri Ganesh Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Sri Ganesh Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.