Guideline Value for Ganapathy Nagar 6th Street

Ganapathy Nagar 6th Street guideline value

The current guideline value of Ganapathy Nagar 6th 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 6th Street has changed

The guideline value for Ganapathy Nagar 6th Street has seen significant changes over the years. In 2002, the value was Rs 74 per sq.ft, which increased to Rs 81 per sq.ft in 2003. Following this, the value surged to Rs 500 per sq.ft in 2007, marking a substantial increase of 517%. The value then rose to Rs 2,000 per sq.ft in 2012, representing a 300% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, and most recently, it has risen to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 2873%.

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 for Ganapathy Nagar 6th Street is below this median.

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

Stamp duty and registration fee for property in Ganapathy Nagar 6th 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, totaling 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathy Nagar 6th Street?

The Ganapathy Nagar 6th 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar 6th Street?

The current guideline value of Ganapathy Nagar 6th 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 2873%.

What is the classification of Ganapathy Nagar 6th Street?

Ganapathy Nagar 6th Street is classified as Residential Class V Type - I.

Where can I find the Sub Registrar Office for Ganapathy Nagar 6th Street?

The Sub Registrar Office for Ganapathy Nagar 6th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Ganapathy Nagar 6th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.