Guideline Value for Ganesh Nagar 3rd Street

Ganesh Nagar 3rd Street guideline value

The current guideline value of Ganesh Nagar 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Special Type - II.

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

The guideline value for Ganesh Nagar 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 398 per sq.ft. This increased to Rs 436 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 750 per sq.ft in 2007, an increase of 72%. Following this, the guideline value rose dramatically to Rs 4,000 per sq.ft in 2012, reflecting a 433% increase. However, there was a decrease to Rs 2,680 per sq.ft in 2017, which was a decline of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, followed by a further rise to the current rate of Rs 4,400 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1006%. There are no figures available for the revisions in years not mentioned in the register for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value is Rs 3,050 per sq.ft, placing Ganesh Nagar 3rd Street's 2024 figure above this median.

• Ganesh Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Ganesh Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Ganesh Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Ganesh Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Ganesh Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Ganesh Nagar 1st Street: Rs 4,400 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. 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 Ganesh Nagar 3rd Street?

The Ganesh Nagar 3rd Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which helps to maintain transparency in property transactions.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 398 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 1006%.

What is the classification of Ganesh Nagar 3rd Street?

Ganesh Nagar 3rd Street is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, with a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Ganesh Nagar 3rd Street?

The Virugambakkam Sub Registrar Office handles the registration for Ganesh Nagar 3rd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.