Guideline Value for Ganapathi Nagar 5th Cross Street

Ganapathi Nagar 5th Cross Street guideline value

The current guideline value of Ganapathi Nagar 5th 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 5th Cross Street has changed

The guideline value for Ganapathi Nagar 5th Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from Rs 2,500 per sq.ft in the 2023 revision. Notably, there was no change in the value from the 2012 revision, which also recorded Rs 2,500 per sq.ft. The revisions for the years 2002, 2003, 2007, and 2017 have no figures available for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This steady increase highlights the current valuation trends in the area.

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 guideline value in the village is Rs 2,400 per sq.ft, placing Ganapathi Nagar 5th Cross Street above this median.

• Ganapathi Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 7th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Nagar 5th 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 amounts to 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, making the total cost for these fees 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.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ganapathi Nagar 5th Cross Street?

The Ganapathi Nagar 5th 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 information.

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

The guideline value is a critical factor in the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring transparency in property dealings.

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.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar 5th Cross Street?

The current guideline value of Ganapathi Nagar 5th 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 increased from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. There has been no change from the 2012 revision, which also recorded Rs 2,500 per sq.ft.

What are the guideline values of other streets in Madambakkam?

Other streets in Madambakkam under the Selaiyur SRO have a guideline value of Rs 2,750 per sq.ft in 2024, similar to Ganapathi Nagar 5th Cross Street.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,50,000, the total fees would amount to Rs 2,47,500.

Where can I find the Sub Registrar Office for Ganapathi Nagar 5th Cross Street?

The Sub Registrar Office covering Ganapathi Nagar 5th Cross Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.