Guideline Value for SwarnaGanapathy Nagar

SwarnaGanapathy Nagar guideline value

The current guideline value of SwarnaGanapathy Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024. This locality is situated in Mogalivakkam village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of SwarnaGanapathy Nagar has changed

Over the years, the guideline value of SwarnaGanapathy Nagar has seen several revisions. The 2007 revision recorded a value of Rs 535 per sq.ft, which increased significantly to Rs 2,600 per sq.ft in 2012. However, there was a decrease to Rs 1,742 per sq.ft in 2017. The 2023 revision brought it back up to Rs 2,600 per sq.ft, and the latest revision in 2024 set the value at Rs 2,860 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%, followed by a 10% rise from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial increase of 435%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mogalivakkam

Mogalivakkam village has 98 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing SwarnaGanapathy Nagar's 2024 figure below that median.

• Sundara Vadivel Nagar: Rs 2,860 per sq.ft (2024)
• Subramania Swamy Koil Street: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension IV: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension III: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension II: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension I: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in SwarnaGanapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, together totaling Rs 2,57,400. Duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SwarnaGanapathy Nagar?

The Sub Registrar Office covering SwarnaGanapathy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Mogalivakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of SwarnaGanapathy Nagar?

The current guideline value of SwarnaGanapathy Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 535 per sq.ft in 2007 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 435% over the years.

What are the stamp duty rates for properties in SwarnaGanapathy Nagar?

The stamp duty rate for properties in SwarnaGanapathy Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value in Mogalivakkam?

The median guideline value in Mogalivakkam is Rs 2,970 per sq.ft, which is higher than the current value of SwarnaGanapathy Nagar.