Guideline Value for Sri Ganesh Nagar

Sri Ganesh Nagar guideline value

The current guideline value of Sri Ganesh Nagar, located in Orathur village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Sri Ganesh Nagar has changed

Since the 2007 revision, the guideline value for Sri Ganesh Nagar has seen significant changes. In 2007, the value was Rs 150 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, this figure remained unchanged until the 2017 revision, where it was set at Rs 335 per sq.ft. The 2023 revision saw no change from the previous year, maintaining the value at Rs 500 per sq.ft, and the same value continues into the 2024 revision.

Overall, from 2007 to 2024, the guideline value has increased by 233%. The changes between revisions include a 233% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a 49% increase from 2017 to 2023. Notably, the revisions for the years 2002 and 2003 do not have figures for this street.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that have a guideline value for 2024, ranging from Rs 335 to Rs 1,700 per sq.ft. The median guideline value is Rs 500 per sq.ft, which is equal to the current value for Sri Ganesh Nagar.

• Sri Devi Karumariyamman Nagar: Rs 500 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)
• Sri Astalakshmi Garden: Rs 500 per sq.ft (2024)
• Sri Maruthi Nagar: Rs 500 per sq.ft (2024)
• SRI Maruthi Nagar Phase I: Rs 500 per sq.ft (2024)
• Sri Mukthi Vinayagar Nagar: Rs 500 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total fees together Rs 45,000. 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 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 information.

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

The guideline value plays a crucial role when buying or selling property in Orathur. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in real estate transactions. It is advisable for buyers and sellers to be informed about the current guideline value to avoid any discrepancies 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 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft from 2023 to 2024.

What is the land classification of Sri Ganesh Nagar?

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

Where can I find the registration office for Sri Ganesh Nagar?

The registration office for Sri Ganesh Nagar is the Gooduvancheri Sub Registrar Office, located on Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,00,000, the stamp duty at 7% would amount to Rs 35,000.