Guideline Value for Ganesh Nagar 5th Street

Ganesh Nagar 5th Street guideline value

The current guideline value of Ganesh Nagar 5th 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 5th Street has changed

The guideline value for Ganesh Nagar 5th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest revision in 2024 has raised it to Rs 2,700 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, followed by an 8% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 8% despite the dip observed between 2012 and 2017.

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 value for Ganesh Nagar 5th Street.

• Ganesh Nagar 4th 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 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, bringing the total fees to 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar 5th Street?

The Ganesh Nagar 5th 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 in the registration process when buying or selling property in Kodungaiyur. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value is assessed to ensure that the transaction is recorded accurately. This helps maintain transparency and ensures compliance with local regulations during the property registration process.

Frequently asked questions

What is the current guideline value of Ganesh Nagar 5th Street?

The current guideline value of Ganesh Nagar 5th 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, marking an 8% increase. It was Rs 1,675 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Ganesh Nagar 5th Street?

Ganesh Nagar 5th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Ganesh Nagar 5th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at Rs 2,700 per sq.ft, the stamp duty would be Rs 1,89,000.