Guideline Value for Ganapathy Naicken Street

Ganapathy Naicken Street guideline value

The current guideline value of Ganapathy Naicken Street is Rs 4,100 per sq.ft. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ganapathy Naicken Street has changed

The guideline value for Ganapathy Naicken Street has seen significant changes over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased to Rs 3,750 per sq.ft in 2012, marking a rise of 369%. However, between 2012 and 2017, the value decreased to Rs 2,512 per sq.ft, a drop of 33%. The value then rose again to Rs 3,750 per sq.ft in 2023, which was a 49% increase from the 2017 figure. The most recent revision in 2024 has set the guideline value at Rs 4,100 per sq.ft, reflecting a 9% increase from the previous year.

Notably, there are no figures recorded for Ganapathy Naicken Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for the area is Rs 4,900 per sq.ft, placing Ganapathy Naicken Street's 2024 figure below this median.

• Gandhi Street: Rs 4,900 per sq.ft (2024)
• Gandhi Street (Pari Nagar): Rs 5,500 per sq.ft (2024)
• Ganesan Street (Parry Nagar): Rs 5,500 per sq.ft (2024)
• E.V.K. Sampath Street: Rs 3,300 per sq.ft (2024)
• Ganga Colony (1st Avenue): Rs 11,000 per sq.ft (2024)
• E.S.I. Colony: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathy Naicken Street?

The Ganapathy Naicken Street is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Kodambakkam, the guideline value is a crucial factor as it determines the stamp duty and registration fees applicable during the transaction. The guideline value serves as a benchmark for the government to assess the value of properties in the area.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Ensuring that the sale price meets or exceeds the guideline value can help in avoiding any complications during the registration process.

Frequently asked questions

What is the current guideline value of Ganapathy Naicken Street?

The current guideline value of Ganapathy Naicken Street is Rs 4,100 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 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 413% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 and the registration fee would be Rs 82,000, totaling Rs 3,69,000.

Which Sub Registrar Office covers Ganapathy Naicken Street?

The Ashok Nagar Sub Registrar Office covers Ganapathy Naicken Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Kodambakkam?

The median guideline value for the 1,031 streets in Kodambakkam is Rs 4,900 per sq.ft, which is above the guideline value of Ganapathy Naicken Street.