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Guideline Value

Corporate

Guideline Value for Ganesh Nagar 3rd Street 2nd Lane

₹2750/sq.ft.

The guideline value for Ganesh Nagar 3rd Street 2nd Lane in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ganesh Nagar 3rd Street 2nd Lane

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Ganesh Nagar 3rd Street 2nd Lane guideline value

The current guideline value of Ganesh Nagar 3rd Street 2nd Lane is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Ganesh Nagar 3rd Street 2nd Lane has changed

In the 2017 revision, the guideline value was set at Rs 1,675 per sq.ft. This figure increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant change of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the guideline value of Ganesh Nagar 3rd Street 2nd Lane.

Stamp duty and registration fee for property in Ganesh Nagar 3rd Street 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. The total cost for these fees together would be Rs 2,47,500. 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 details.

Which Sub Registrar Office covers Ganesh Nagar 3rd Street 2nd Lane?

The Ganesh Nagar 3rd Street 2nd Lane falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for additional information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is essential when registering a property in Madipakkam-1. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that both the buyer and seller are aware of the official valuation of the property.

When a property is sold, the guideline value helps determine the applicable taxes and fees, which are necessary for the legal transfer of ownership. This process ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ganesh Nagar 3rd Street 2nd Lane?

The current guideline value of Ganesh Nagar 3rd Street 2nd Lane is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the other streets with the same guideline value in Madipakkam-1?

Other streets in Madipakkam-1 that share the same guideline value of Rs 2,750 per sq.ft include Ganesh Nagar 3rd Street 1st Lane, Ganesh Nagar 4th Street, Ganesh Nagar 3rd Street, Ganesh Nagar 3rd Cross Street, Ganesh Nagar 5th Street, and Ganesh Nagar 6th Street.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles property registrations for Ganesh Nagar 3rd Street 2nd Lane.

How is stamp duty calculated for properties in Ganesh Nagar 3rd Street 2nd Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.