Guideline Value for Ganapathy Nagar Main Rd ( Ward No.3 )

Ganapathy Nagar Main Rd ( Ward No.3 ) guideline value

The current guideline value of Ganapathy Nagar Main Rd ( 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, and is classified as Residential Class I Type - I.

How the guideline value of Ganapathy Nagar Main Rd ( Ward No.3 ) has changed

The guideline value for Ganapathy Nagar Main Rd ( Ward No.3 ) has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the most recent revision in 2024 has increased the value to Rs 2,200 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street. The changes in guideline values reflect the adjustments made by the authorities over time based on various factors.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Ganapathy Nagar Main Rd ( Ward No.3 ) above this median value.

• Ganapathy Nagar (Ward 24): Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 3rd st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 2nd st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 1st st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Ganapathy Thottam (Ward-30): Rs 2,200 per sq.ft (2024)
• Gandhiji Street (Lakshmipuram): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar Main Rd ( 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 would be Rs 22,00,000. The stamp duty, calculated at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Ganapathy Nagar Main Rd ( Ward No.3 )?

The Ganapathy Nagar Main Rd ( Ward No.3 ) is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the sale price is compared to the guideline value. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately and fairly in the land records.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar Main Rd ( Ward No.3 )?

The current guideline value of Ganapathy Nagar Main Rd ( 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, and then increased to Rs 2,200 per sq.ft in 2024. This marks a 64% increase from 2017 to 2024 and an overall 10% increase from 2012 to 2024.

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 office handles registrations for Ganapathy Nagar Main Rd ( Ward No.3 )?

The Madhavaram Sub Registrar Office handles registrations for Ganapathy Nagar Main Rd ( Ward No.3 ). The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Ganapathy Nagar Main Rd ( Ward No.3 )?

Ganapathy Nagar Main Rd ( Ward No.3 ) is classified as Residential Class I Type - I, indicating its designation for residential use within the area.