Guideline Value for Ganapathi Nagar Extention 1st Street

Ganapathi Nagar Extention 1st Street guideline value

The current guideline value of Ganapathi Nagar Extention 1st 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 Extention 1st Street has changed

The guideline value for Ganapathi Nagar Extention 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is a 10% increase from Rs 2,500 per sq.ft in the 2023 revision. Notably, there was no change in the guideline value from 2012 to 2023, where it remained at Rs 2,500 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The consistent value of Rs 2,500 per sq.ft from 2012 to 2023 indicates stability during that period before the recent increase.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a guideline value for 2024, 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 Extention 1st Street's 2024 guideline value above this median.

• Ganapathi Nagar Extention: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 7th Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 5th Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Nagar Extention 1st 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, 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathi Nagar Extention 1st Street?

The Ganapathi Nagar Extention 1st 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 crucial factor in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value for registration purposes, ensuring that properties are not undervalued during the sale process.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. Therefore, understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar Extention 1st Street?

The current guideline value of Ganapathi Nagar Extention 1st 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. There was no change in the value from 2012 to 2023, and the overall increase from 2012 to 2024 is 10%.

What is the land classification of Ganapathi Nagar Extention 1st Street?

Ganapathi Nagar Extention 1st Street is classified as Commercial Class I Type - I. This classification indicates the type of development permissible in the area.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000.

Which office handles the registration for Ganapathi Nagar Extention 1st Street?

The Selaiyur Sub Registrar Office handles the registration for Ganapathi Nagar Extention 1st Street. The office is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.