Guideline Value for Ganapathy Nagar 4th Street

Ganapathy Nagar 4th Street guideline value

The current guideline value of Ganapathy Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Ganapathy Nagar 4th Street has changed

The guideline value for Ganapathy Nagar 4th Street has seen several revisions over the years. In 2002, the guideline value was Rs 74 per sq.ft, which increased significantly to Rs 81 per sq.ft in 2003. The value continued to rise, reaching Rs 500 per sq.ft in 2007, followed by a substantial jump to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The value was revised to Rs 2,000 per sq.ft in 2023, before the latest revision to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,873%. The largest increase occurred between 2003 and 2007, where the value rose by 517%. Conversely, the most significant decrease was from 2012 to 2017, with a drop of 33%. The register has no figure for this street for the years not listed.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value of Ganapathy Nagar 4th Street is below this median.

• Ganapathy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 8th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar 4th Street

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

Which Sub Registrar Office covers Ganapathy Nagar 4th Street?

The Ganapathy Nagar 4th Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are documented accurately.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar 4th Street?

The current guideline value of Ganapathy Nagar 4th Street 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 significantly, increasing from Rs 74 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024. The largest increase occurred between 2003 and 2007, with a rise of 517%.

What is the land classification for Ganapathy Nagar 4th Street?

Ganapathy Nagar 4th Street is classified as Residential Class V Type - I. This classification is important for determining the guideline value and applicable regulations.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where can I find the Sub Registrar Office for Ganapathy Nagar 4th Street?

The Virugambakkam Sub Registrar Office covers Ganapathy Nagar 4th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.