Guideline Value for Sri Gangai Nagar Extension

Sri Gangai Nagar Extension guideline value

The current guideline value of Sri Gangai Nagar Extension in Pammathukulam village, under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sri Gangai Nagar Extension has changed

The guideline value for Sri Gangai Nagar Extension has undergone several revisions over the years. Starting from Rs 225 per sq.ft in 2002, it increased to Rs 24 per sq.ft in 2003, marking a decrease. The value then rose significantly to Rs 200 per sq.ft in 2007, followed by a substantial increase to Rs 500 per sq.ft in 2012. However, it saw a decline to Rs 335 per sq.ft in 2017. The value then increased to Rs 500 per sq.ft in 2023, and finally, it reached Rs 550 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Between the revisions, notable changes include a remarkable 733% increase from 2003 to 2007, followed by a 150% rise from 2007 to 2012. The value decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. Overall, from 2002 to 2024, the guideline value has increased by 144%.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the 2024 figure for Sri Gangai Nagar Extension.

• Sri Gangai Nagar: Rs 550 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 660 per sq.ft (2024)
• Sri Hariharan Nagar: Rs 550 per sq.ft (2024)
• Sri Jai Balaji Nagar Part - II: Rs 385 per sq.ft (2024)
• Sri Kanniamman Nagar: Rs 660 per sq.ft (2024)
• Sri Karpaga Vinayagar Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Gangai Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Gangai Nagar Extension?

The Sri Gangai Nagar Extension falls under the jurisdiction of the Redhills Sub Registrar Office. The address is Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a critical factor during property registration in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value may influence the overall cost of the transaction.

When a property is bought or sold, the guideline value is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized, reflecting the current market conditions as per the official register.

Frequently asked questions

What is the current guideline value of Sri Gangai Nagar Extension?

The current guideline value of Sri Gangai Nagar Extension is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2002 to Rs 550 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value for streets in Pammathukulam?

The median guideline value for streets in Pammathukulam is Rs 550 per sq.ft, which is the same as the current value for Sri Gangai Nagar Extension.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Sri Gangai Nagar Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at 7%.