Guideline Value for Ganapathy Street

Ganapathy Street guideline value

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

How the guideline value of Ganapathy Street has changed

The guideline value for Ganapathy Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in the 2023 revision. Prior to that, the 2012 revision also recorded a value of Rs 2,000 per sq.ft. There are no figures available for the revisions in 2017, 2007, 2003, and 2002.

From 2012 to 2024, the overall increase in the guideline value is 10%. The change from 2023 to 2024 represents a 10% increase, while there was no change from 2012 to 2023.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in the village is Rs 2,700 per sq.ft, which means Ganapathy Street's 2024 figure is below this median.

• Ganapathy Street Extension: Rs 2,200 per sq.ft (2024)
• Gandhi 1st Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Gandhi 2nd Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 1st Main Road (Koyyathoppu): Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy 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 amount to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees 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 detailed calculations.

Which Sub Registrar Office covers Ganapathy Street?

The Sub Registrar Office that covers Ganapathy Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur. It is used to determine the amount of stamp duty and registration fees that need to be paid when a property is registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction. It is essential for both parties to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ganapathy Street?

The current guideline value of Ganapathy 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 from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. It remained at Rs 2,000 per sq.ft from 2012 to 2023.

What is the land classification for Ganapathy Street?

Ganapathy Street is classified as Residential Class II Type - I under the local land classification system.

What are the stamp duty and registration fees for properties on Ganapathy Street?

The stamp duty is 7% of the guideline value, and 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 is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.