Guideline Value for Ganapathy Nagar 1st st ( Ward No.3 )

Ganapathy Nagar 1st st ( Ward No.3 ) guideline value

The current guideline value of Ganapathy Nagar 1st st ( Ward No.3 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Ganapathy Nagar 1st st ( Ward No.3 ) has changed

The guideline value for Ganapathy Nagar 1st st has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease in 2017 to Rs 1,340 per sq.ft, representing a decline of 33%. In the most recent 2024 revision, the guideline value increased significantly to Rs 2,200 per sq.ft, marking a 64% rise from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. It should be noted that there are no recorded figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, placing Ganapathy Nagar 1st st's current value above this median.

• Ganapathy Nagar 2nd st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 3rd st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar Main Rd ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar (Ward 24): Rs 2,200 per sq.ft (2024)
• Ganapathy Thottam (Ward-30): Rs 2,200 per sq.ft (2024)
• Ganapathi Thottam (Ward-30): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar 1st st ( Ward No.3 )

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ganapathy Nagar 1st st ( Ward No.3 )?

The Ganapathy Nagar 1st st ( Ward No.3 ) falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar 1st st?

The current guideline value of Ganapathy Nagar 1st st ( Ward No.3 ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2024. There are no recorded figures for the years 2023, 2007, 2003, and 2002 for this street.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Ganapathy Nagar 1st st?

The Madhavaram Sub Registrar Office covers Ganapathy Nagar 1st st ( Ward No.3 ), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Ganapathy Nagar 1st st?

Ganapathy Nagar 1st st is classified as Residential Class I Type - I, which indicates its suitability for residential development.