Guideline Value for Ganesh Nagar Annex (Ward 29)

Ganesh Nagar Annex (Ward 29) guideline value

The current guideline value for Ganesh Nagar Annex (Ward 29) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ganesh Nagar Annex (Ward 29) has changed

The guideline value for Ganesh Nagar Annex (Ward 29) has seen significant changes over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,200 per sq.ft. From 2012 to 2024, there has been an increase of 83%, bringing the current value to Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023.

In summary, the guideline value has risen from Rs 1,200 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024. This increase reflects a substantial change in the valuation of properties in this area over the past decade.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, positioning Ganesh Nagar Annex (Ward 29) above this median with its current guideline value of Rs 2,200 per sq.ft.

• Ganesh Nagar Extension: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Ganesh Nagar, Ponniammanmedu (Ward-23): Rs 2,200 per sq.ft (2024)
• Ganesh Nagar (Ward No.29): Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 1st Street (Ward 29): Rs 1,300 per sq.ft (2024)
• Gangadaran St (Ward-30): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar Annex (Ward 29)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000 for these charges. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganesh Nagar Annex (Ward 29)?

The Ganesh Nagar Annex (Ward 29) falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected. This value is essential for both buyers and sellers to understand, as it impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Ganesh Nagar Annex (Ward 29)?

The current guideline value for Ganesh Nagar Annex (Ward 29) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking an increase of 83%.

What are the guideline values for other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, with rates ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft.

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 stamp duty calculated for properties in Ganesh Nagar Annex (Ward 29)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.