Guideline Value for Sri Ganesh Nagar

Sri Ganesh Nagar guideline value

The current guideline value of Sri Ganesh Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Ganesh Nagar has changed

Since the 2017 revision, the guideline value has seen significant increases. The 2017 revision set the value at Rs 1,675 per sq.ft, which rose to Rs 2,500 per sq.ft in 2023, marking a 49% increase. The latest revision in 2024 has further increased the value to Rs 2,750 per sq.ft, reflecting a 10% rise from the previous year.

For the years 2002, 2003, 2007, and 2012, the register has no figure for Sri Ganesh Nagar. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Sri Ganesh Nagar is above this median.

• Sri Dhalakshmi Nagar: Rs 3,740 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,650 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 2,750 per sq.ft (2024)
• Sri Arunagiriyar Street: Rs 1,650 per sq.ft (2024)
• Sri Amman Nagar: Rs 1,650 per sq.ft (2024)
• Sri Narayana Nagar: Rs 2,750 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO here.

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

The guideline value plays a crucial role in property transactions in Kolapakkam. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for calculating taxes. It is essential for both parties to be aware of 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 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From the 2017 revision of Rs 1,675 per sq.ft, the guideline value increased to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification of Sri Ganesh Nagar?

Sri Ganesh Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes within the Kolapakkam area.

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

The registration office for Sri Ganesh Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated in Sri Ganesh Nagar?

Stamp duty in Sri Ganesh Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.