Guideline Value for Sri Ganesh Nagar

Sri Ganesh Nagar guideline value

The current guideline value of Sri Ganesh Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Ganesh Nagar has changed

The guideline value for Sri Ganesh Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 315 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a substantial rise of 217%. Following that, the value jumped to Rs 4,000 per sq.ft in 2012, reflecting a remarkable increase of 300%. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is a 10% increase from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2002, 2017, and 2023 for this street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 1297%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Sri Ganesh Nagar's 2024 figure above that median.

• Sri Jayaram Nagar: Rs 4,400 per sq.ft (2024)
• Sri Krishna Nagar: Rs 4,400 per sq.ft (2024)
• Sri Lakshmi Avenue / Colony: Rs 2,700 per sq.ft (2024)
• Sri Manigandan Nagar: Rs 2,700 per sq.ft (2024)
• Sri Nagar Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Sri Nagar Colony 2nd Street: Rs 3,300 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the 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?

Sri Ganesh Nagar falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kolathur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the transaction is recorded accurately in the official records.

Additionally, the guideline value helps in establishing a baseline for property transactions, providing transparency and a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to understand the financial implications of any property transaction.

Frequently asked questions

What is the current guideline value of Sri Ganesh Nagar?

The current guideline value of Sri Ganesh Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 315 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, an overall increase of 1297% over this period.

What are the stamp duty rates for properties in Sri Ganesh Nagar?

The stamp duty for properties in Sri Ganesh Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What other streets have similar guideline values in Kolathur?

Other streets in Kolathur with similar guideline values include Sri Jayaram Nagar and Sri Krishna Nagar, both at Rs 4,400 per sq.ft in 2024.