Guideline Value for Ganapathy Nagar 5th Street

Ganapathy Nagar 5th Street guideline value

The current guideline value of Ganapathy Nagar 5th 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 5th Street has changed

The guideline value for Ganapathy Nagar 5th Street has undergone 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, marking a 9% rise. The value then saw a dramatic increase of 517% to Rs 500 per sq.ft in 2007. Following this, the value surged by 300% to Rs 2,000 per sq.ft in 2012. However, it dropped by 33% to Rs 1,340 per sq.ft in 2017. The value then rose by 49% to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in 2024, which represents a 10% increase from the previous year.

There are no figures available for the years between these revisions for Ganapathy Nagar 5th Street. Overall, from 2002 to 2024, the guideline value has increased by 2,873%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value is Rs 3,050 per sq.ft, indicating that Ganapathy Nagar 5th Street's 2024 figure is below this median.

• Ganapathy Nagar 4th 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 3rd Street: Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 9th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar 5th Street

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 at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total fees would be 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 details.

Which Sub Registrar Office covers Ganapathy Nagar 5th Street?

The Ganapathy Nagar 5th Street falls under the jurisdiction of 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 plays a crucial role when buying or selling property in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the legal requirements.

When a property transaction occurs, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction is recorded accurately in the official registers.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar 5th Street?

The current guideline value of Ganapathy Nagar 5th 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 from Rs 74 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2,873% over this period.

What are the stamp duty and registration fees for property in Ganapathy Nagar 5th Street?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,98,000, which includes a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.

Which Sub Registrar Office covers Ganapathy Nagar 5th Street?

The Virugambakkam Sub Registrar Office covers Ganapathy Nagar 5th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Ganapathy Nagar 5th Street?

Ganapathy Nagar 5th Street is classified as Residential Class V Type - I, indicating its designation for residential use within the local planning framework.