Guideline Value for Sri Gubera Ganesh Nagar

Sri Gubera Ganesh Nagar guideline value

The current guideline value of Sri Gubera Ganesh Nagar is Rs 100 per sq.ft. This area is located in Vinayaganaloore village, under the Madurandakam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Gubera Ganesh Nagar has changed

Over the years, the guideline value for Sri Gubera Ganesh Nagar has seen several revisions. In 2007, the guideline value was Rs 25 per sq.ft, which increased to Rs 70 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 47 per sq.ft. The value then rose significantly to Rs 100 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From the 2017 revision to the 2023 revision, there was an increase of 113%. The overall increase from the 2007 revision to the current 2024 revision is 300%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vinayaganaloore

In Vinayaganaloore, there are eight streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft, with a median of Rs 102 per sq.ft. Sri Gubera Ganesh Nagar's 2024 guideline value is below this median.

• Sri Guberan Nagar: Rs 101 per sq.ft (2024)
• Sri Balaji Nagar: Rs 101 per sq.ft (2024)
• Sree Kamatchi Nagar: Rs 102 per sq.ft (2024)
• Saranalaya Nagar Phase-I: Rs 150 per sq.ft (2024)
• Raja Nagar: Rs 103 per sq.ft (2024)
• Vasantham Nagar: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Gubera Ganesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value is Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total cost for these fees Rs 9,000. 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 detailed calculations.

Which Sub Registrar Office covers Sri Gubera Ganesh Nagar?

The Sub Registrar Office that covers Sri Gubera Ganesh Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is essential during the registration process of property transactions in Vinayaganaloore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction complies with local regulations.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This transparency aids in fair dealings and prevents undervaluation of properties in the region.

Frequently asked questions

What is the current guideline value of Sri Gubera Ganesh Nagar?

The current guideline value of Sri Gubera Ganesh Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 25 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, marking an overall increase of 300% over the years.

What is the land classification of Sri Gubera Ganesh Nagar?

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

Where can I find the Sub Registrar Office for Sri Gubera Ganesh Nagar?

The Sub Registrar Office for Sri Gubera Ganesh Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Gubera Ganesh Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 at 7%.