Guideline Value for Sri Ganesh Nagar

Sri Ganesh Nagar guideline value

The current guideline value of Sri Ganesh Nagar, located in Andavakkam village under the Madurandakam SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Ganesh Nagar has changed

The guideline value for Sri Ganesh Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 20 per sq.ft, which increased significantly to Rs 100 per sq.ft in 2012, marking a 400% increase. However, it then decreased to Rs 67 per sq.ft in 2017, a reduction of 33%. The value remained at Rs 67 per sq.ft until the 2023 revision, where it was again set at Rs 100 per sq.ft, reflecting a 49% increase from the previous figure. The current guideline value remains unchanged at Rs 100 per sq.ft from the 2023 to the 2024 revision, indicating a 0% change.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Andavakkam

In Andavakkam, there are seven streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 150 per sq.ft. Sri Ganesh Nagar's current guideline value is below this median.

• Sri Manoprabu Nagar: Rs 100 per sq.ft (2024)
• Sslf City Dr.Sakthivel Nagar: Rs 150 per sq.ft (2024)
• Royal Farms: Rs 100 per sq.ft (2024)
• Victory Nagar Phase-I: Rs 250 per sq.ft (2024)
• Eyarkkai Nagar Phase-I&ii: Rs 300 per sq.ft (2024)
• Eyarkai Nagar: Rs 200 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 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ganesh Nagar?

The Sub Registrar Office that covers Sri Ganesh Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Andavakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction, based on the established guideline value for the area.

Frequently asked questions

What is the current guideline value of Sri Ganesh Nagar?

The current guideline value of Sri Ganesh Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2012, then decreased to Rs 67 per sq.ft in 2017. It remained at Rs 67 per sq.ft until 2023, when it returned to Rs 100 per sq.ft, with no change in 2024.

What is the land classification for Sri Ganesh Nagar?

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

What are the stamp duty and registration fees for properties in Sri Ganesh Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at Rs 100 per sq.ft, the total fees would amount to Rs 9,000.

Where can I find the Sub Registrar Office for Sri Ganesh Nagar?

The Sub Registrar Office for Sri Ganesh Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.