Guideline Value for Ganapathy Thottam (Ward-30)

Ganapathy Thottam (Ward-30) guideline value

The current guideline value of Ganapathy Thottam (Ward-30) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Ganapathy Thottam (Ward-30) has changed

The guideline value for Ganapathy Thottam has seen several revisions over the years. The 2012 revision recorded a value of Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the guideline value to Rs 2,200 per sq.ft, reflecting a significant change of +64% from 2017 to 2024. Overall, from 2012 to 2024, there has been a modest increase of +10%.

It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street. The 2012 to 2017 period saw a decrease of -33% in the guideline value, highlighting fluctuations in the property valuation over time.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Ganapathy Thottam (Ward-30) is above this median, indicating a relatively higher valuation.

• Ganapathy Nagar (Ward 24): Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar Main Rd ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Gandhiji Street (Lakshmipuram): Rs 1,600 per sq.ft (2024)
• Gandhiji Street (Ward-29): Rs 1,600 per sq.ft (2024)
• Ganapathy Nagar 3rd st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar 2nd st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Thottam (Ward-30)

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, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathy Thottam (Ward-30)?

The Sub Registrar Office that covers Ganapathy Thottam (Ward-30) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Madhavaram. It serves as a benchmark for the valuation of property transactions, ensuring that the government receives the appropriate taxes based on the property's worth.

When registering a property, the guideline value helps in establishing the official price at which the property is transacted. This ensures transparency and accountability in property dealings, safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Ganapathy Thottam (Ward-30)?

The current guideline value of Ganapathy Thottam (Ward-30) 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 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. This represents a +64% increase from 2017 to 2024 and a +10% increase overall from 2012 to 2024.

What is the land classification for Ganapathy Thottam?

Ganapathy Thottam is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price, and together they contribute to the total cost of property registration.

Which office handles registrations for Ganapathy Thottam?

The Madhavaram Sub Registrar Office handles registrations for Ganapathy Thottam (Ward-30). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.