Guideline Value for Sri Ganesh Nagar

Sri Ganesh Nagar guideline value

The current guideline value of Sri Ganesh Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Sri Ganesh Nagar has changed

The guideline value for Sri Ganesh Nagar has seen several revisions over the years. As of the 2012 revision, the value was Rs 1,500 per sq.ft. In 2017, it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, which means that the guideline value of Sri Ganesh Nagar is below this median.

• Sri Durga Nagar: Rs 2,200 per sq.ft (2024)
• Sri Maruthi Avenue: Rs 1,320 per sq.ft (2024)
• Sri Ambal Nagar: Rs 2,200 per sq.ft (2024)
• Srinivasan Street (Reddy Street): Rs 3,300 per sq.ft (2024)
• South Street: Rs 3,300 per sq.ft (2024)
• Solomon Street: Rs 1,320 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Ganesh Nagar?

Sri Ganesh Nagar falls under the Tambaram Joint 1 Sub Registrar Office located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential to refer to the latest revisions to ensure compliance with the 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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase overall. The value decreased to Rs 1,005 per sq.ft in 2017 but increased significantly to Rs 1,500 per sq.ft by 2023.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500. The duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Sri Ganesh Nagar?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Sri Ganesh Nagar. It is located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the median guideline value in Tambaram?

The median guideline value in Tambaram is Rs 3,300 per sq.ft. Sri Ganesh Nagar's current guideline value is below this median.