Guideline Value for Ganesh Nagar 3rd Street

Ganesh Nagar 3rd Street guideline value

The current guideline value of Ganesh Nagar 3rd Street is Rs 2,700 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 I Type - I.

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

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, representing a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The current 2024 revision has further increased the guideline value to Rs 2,700 per sq.ft, which is an 8% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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 for these streets is Rs 2,700 per sq.ft, which aligns with the current guideline value of Ganesh Nagar 3rd Street.

• Ganesh Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar Extension Part-II: Rs 2,700 per sq.ft (2024)
• Gandhi Street (V.V. Nagar): Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganesh Nagar 3rd Street?

The Ganesh Nagar 3rd Street falls under 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 plays a crucial role during the registration of property transactions in Kodungaiyur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs reflect the current market conditions.

When buying or selling property, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, as it prevents undervaluation and protects the interests of both buyers and sellers.

Frequently asked questions

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

The current guideline value of Ganesh Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 2,500 per sq.ft in 2012, decreased to Rs 1,675 per sq.ft in 2017, increased to Rs 2,500 per sq.ft in 2023, and is now Rs 2,700 per sq.ft in 2024.

What is the registration office for Ganesh Nagar 3rd Street?

The registration office for Ganesh Nagar 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty and registration fees for properties in Ganesh Nagar 3rd Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

What is the land classification of Ganesh Nagar 3rd Street?

Ganesh Nagar 3rd Street is classified as Residential Class I Type - I, indicating its designation for residential purposes within the area.