Guideline Value for Ganapathi Nagar 3rd Cross Street

Ganapathi Nagar 3rd Cross Street guideline value

The current guideline value of Ganapathi Nagar 3rd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Ganapathi Nagar 3rd Cross Street has changed

The guideline value for Ganapathi Nagar 3rd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2023 revision, where it still stood at Rs 2,500 per sq.ft. However, in the 2024 revision, the value increased to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 10%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value across these streets is Rs 2,400 per sq.ft, making Ganapathi Nagar 3rd Cross Street's 2024 guideline value above that median.

• Ganapathi Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 4th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total of Rs 2,47,500. 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 Ganapathi Nagar 3rd Cross Street?

The Ganapathi Nagar 3rd Cross Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar 3rd Cross Street?

The current guideline value of Ganapathi Nagar 3rd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,500 per sq.ft from 2012 to 2023, but it increased to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

What is the land classification for Ganapathi Nagar 3rd Cross Street?

Ganapathi Nagar 3rd Cross Street is classified as Commercial Class I Type - I.

What are the other guideline values in Madambakkam?

Other streets in Madambakkam under the Selaiyur SRO have guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft, with the median being Rs 2,400 per sq.ft.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.