Guideline Value for Ganapathi Street

Ganapathi Street guideline value

The current guideline value of Ganapathi Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ganapathi Street has changed

According to the register, there are no figures available for Ganapathi Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft.

There have been no changes between the revisions mentioned above. The 2024 figure is the only available value for Ganapathi Street in the guideline value register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, which is equal to the 2024 figure for Ganapathi Street.

• Ganapathi Street Extension: Rs 2,750 per sq.ft (2024)
• Ezhil Avenue: Rs 2,200 per sq.ft (2024)
• E.V.R. Colony Andavar Street: Rs 2,750 per sq.ft (2024)
• E.V.R. Colony 3rd Street: Rs 2,750 per sq.ft (2024)
• E.V.R. Colony 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• E.V.R. Colony 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi 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 amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, together totaling Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathi Street?

The Ganapathi Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property in this area, it is crucial to be aware of the current guideline value, as it directly impacts the costs associated with registration. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid complications during the registration process.

Frequently asked questions

What is the current guideline value of Ganapathi Street?

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

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revision for Ganapathi Street occurring in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023.

What is the land classification for Ganapathi Street?

Ganapathi Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the registration office for Ganapathi Street?

The Velacheri Sub Registrar Office covers Ganapathi Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Ganapathi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,92,500.