Guideline Value for Sri Gangai Nagar

Sri Gangai Nagar guideline value

The current guideline value of Sri Gangai Nagar, located 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 has changed

The guideline value for Sri Gangai Nagar has seen several revisions over the years. Starting from Rs 213 per sq.ft in 2002, it increased to Rs 25 per sq.ft in 2003. 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 dropped to Rs 335 per sq.ft in 2017, before climbing to Rs 500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 550 per sq.ft.

Between the revisions, notable changes include a 700% increase from 2003 to 2007, a 150% rise from 2007 to 2012, and a 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 158%.

Guideline values in Pammathukulam

Pammathukulam village has a range of guideline values for its 101 streets under the Redhills SRO, with figures varying from Rs 330 to Rs 825 per sq.ft. The median value for these streets is Rs 550 per sq.ft, making Sri Gangai Nagar's 2024 figure equal to this median.

• Sri Gangai Nagar Extension: 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

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 the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Gangai Nagar?

The Sub Registrar Office that covers Sri Gangai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration of property. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value will be considered alongside the sale price to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sri Gangai Nagar?

The current guideline value of Sri Gangai Nagar 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 213 per sq.ft in 2002 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 158% over the years.

What is the land classification for Sri Gangai Nagar?

Sri Gangai Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for property in Sri Gangai Nagar?

The stamp duty rate for property in Sri Gangai Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Sri Gangai Nagar located?

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