Guideline Value for Sri Ganesh Nagar

Sri Ganesh Nagar guideline value

The current guideline value of Sri Ganesh Nagar, located in Vanchuvancheri village under the Sriperumpudur SRO, is Rs 510 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sri Ganesh Nagar has changed

In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This figure saw a decrease to Rs 335 per sq.ft in the 2017 revision, marking a drop of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 510 per sq.ft, reflecting a 2% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 2%.

Guideline values in Vanchuvancheri

In Vanchuvancheri, there are 23 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 700 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Sri Ganesh Nagar is above this median.

• Sri Ganesh Nagar Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 510 per sq.ft, the total 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 the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ganesh Nagar?

Sri Ganesh Nagar falls under the jurisdiction of 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

The guideline value plays a crucial role in the registration process for property transactions in Vanchuvancheri. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Ganesh Nagar?

The current guideline value of Sri Ganesh Nagar is Rs 510 per sq.ft as per the 2024 revision, 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 of Sri Ganesh Nagar?

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

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

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

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 510 per sq.ft, the total guideline value would be Rs 5,10,000, leading to a stamp duty of Rs 35,700.