Guideline Value for Ganapathy Nagar - Sriram Nagar Link Road

Ganapathy Nagar - Sriram Nagar Link Road guideline value

The current guideline value for Ganapathy Nagar - Sriram Nagar Link Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Ganapathy Nagar - Sriram Nagar Link Road has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for the village is Rs 2,400 per sq.ft, placing Ganapathy Nagar - Sriram Nagar Link Road above this median.

• Ganapathy Nagar - Ambika Nagar Link Road: Rs 2,750 per sq.ft (2024)
• Gandhi Nagar: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar - Sriram Nagar Link Road

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, while 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 our stamp duty and registration fee calculator for more information on fees applicable to your property.

Which Sub Registrar Office covers Ganapathy Nagar - Sriram Nagar Link Road?

The Ganapathy Nagar - Sriram Nagar Link Road is covered by 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 details.

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

The guideline value plays a crucial role during the registration process of property transactions in Madambakkam. 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, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal property transactions.

Frequently asked questions

What is the current guideline value for Ganapathy Nagar - Sriram Nagar Link Road?

The current guideline value for Ganapathy Nagar - Sriram Nagar Link Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased by 10% to Rs 2,750 per sq.ft in the 2024 revision. There was no change in the 2023 revision, which remained at Rs 2,500 per sq.ft.

What is the land classification for this area?

The land classification for Ganapathy Nagar - Sriram Nagar Link Road is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at 7%.