Guideline Value for Sri Ganesha Nagar

Sri Ganesha Nagar guideline value

The current guideline value of Sri Ganesha Nagar is Rs 1,325 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village and falls under the Gooduvancheri SRO, classified as Residential Class I Type - III.

How the guideline value of Sri Ganesha Nagar has changed

The guideline value for Sri Ganesha Nagar has undergone several revisions over the years. The earliest recorded value is from 2007, at Rs 358 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 235% rise. However, it then decreased to Rs 804 per sq.ft in 2017, reflecting a 33% drop. The value saw a substantial increase to Rs 1,200 per sq.ft in 2023, followed by a further rise to the current value of Rs 1,325 per sq.ft in 2024, which is a 10% increase from the previous year. Notably, the register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, bringing it to Rs 1,200 per sq.ft. The overall change from 2007 to 2024 shows a remarkable increase of 270%, highlighting the significant growth in the guideline value over the years.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value is Rs 1,215 per sq.ft, placing Sri Ganesha Nagar's 2024 figure above this median.

• Sri Krishna Nagar: Rs 1,320 per sq.ft (2024)
• Sri Balaji Nagar: Rs 990 per sq.ft (2024)
• Sri Baba Nagar: Rs 770 per sq.ft (2024)
• Sri Ananthanathan Nagar: Rs 990 per sq.ft (2024)
• South Mada Street: Rs 940 per sq.ft (2024)
• Sriram Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganesha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,325 per sq.ft, the total guideline value amounts to Rs 13,25,000. The stamp duty at 7% would be Rs 92,750, and the registration fee at 2% would be Rs 26,500, bringing the total fees together to Rs 1,19,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ganesha Nagar?

The Sub Registrar Office that covers Sri Ganesha Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mannivakkam, as it determines the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements when registering property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty, which is a mandatory fee that must be paid to the government. This ensures that all property transactions are fairly assessed and documented according to the established values in the region.

Frequently asked questions

What is the current guideline value of Sri Ganesha Nagar?

The current guideline value of Sri Ganesha Nagar is Rs 1,325 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 358 per sq.ft in 2007 to Rs 1,325 per sq.ft in 2024, reflecting an overall increase of 270% over the years.

What are the stamp duty and registration fees for property in Sri Ganesha Nagar?

For a property valued at Rs 13,25,000, the stamp duty would be Rs 92,750 and the registration fee would be Rs 26,500, totaling Rs 1,19,250.

Which Sub Registrar Office covers Sri Ganesha Nagar?

The Gooduvancheri Sub Registrar Office covers Sri Ganesha Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Where can I find more information about guideline values in Mannivakkam?

For more information about guideline values in Mannivakkam, you can refer to the official registration department's guideline value register or visit the Gooduvancheri SRO.