Guideline Value for Ganesh Nagar 4th Street

Ganesh Nagar 4th Street guideline value

The current guideline value of Ganesh Nagar 4th 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 4th Street has changed

The guideline value for Ganesh Nagar 4th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, representing a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, an 8% increase from the previous year.

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

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that have a guideline value for 2024, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current figure for Ganesh Nagar 4th Street.

• Ganesh Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar Extension Part-II: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar 1st Street: 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 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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, making the total Rs 2,43,000. 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 information.

Which Sub Registrar Office covers Ganesh Nagar 4th Street?

The Ganesh Nagar 4th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Kodungaiyur. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair value. This value is used to calculate the applicable stamp duty and registration fees, which are mandatory during the sale or purchase of property.

When buying or selling property, it is essential to be aware of the current guideline value to avoid any discrepancies during the registration process. The guideline value helps in maintaining transparency in property transactions and aids in the smooth execution of legal formalities.

Frequently asked questions

What is the current guideline value of Ganesh Nagar 4th Street?

The current guideline value of Ganesh Nagar 4th 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 changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024. It was Rs 1,675 per sq.ft in 2017, which increased to Rs 2,500 per sq.ft in 2023.

What is the land classification of Ganesh Nagar 4th Street?

Ganesh Nagar 4th Street is classified as Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated for properties in Ganesh Nagar 4th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,89,000.