Guideline Value for Ganesh Nagar Cross Street

Ganesh Nagar Cross Street guideline value

The current guideline value of Ganesh Nagar Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Ganesh Nagar Cross Street has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This figure increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a total increase of 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1823 streets under the Velacheri SRO. The guideline values for these streets in 2024 range from Rs 1,650 to Rs 5,500 per sq.ft, with the median value being Rs 2,750 per sq.ft. The guideline value of Ganesh Nagar Cross Street aligns with this median.

• Ganesh Nagar 9th Street: Rs 2,750 per sq.ft (2024)
• Ganesh Nagar 8th Street: Rs 2,750 per sq.ft (2024)
• Ganesh Nagar 7th Street: Rs 2,750 per sq.ft (2024)
• Ganesh Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Ganesh Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Ganesh Nagar 5th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 further calculations.

Which Sub Registrar Office covers Ganesh Nagar Cross Street?

The Ganesh Nagar Cross Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that the transaction is in compliance with local regulations. Buyers and sellers should be aware of the current guideline value to accurately assess the costs involved in the property transaction.

Frequently asked questions

What is the current guideline value of Ganesh Nagar Cross Street?

The current guideline value of Ganesh Nagar Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, showing a total increase of 64% over this period.

What is the stamp duty for property in Ganesh Nagar Cross Street?

The stamp duty for property in Ganesh Nagar Cross Street is 7% of the guideline value or the sale price, whichever is higher.

What are the registration fees for property transactions?

The registration fee is 2% of the guideline value or the sale price, whichever is higher, in Ganesh Nagar Cross Street.

Where can I find the Sub Registrar Office for Ganesh Nagar Cross Street?

The Velacheri Sub Registrar Office covers Ganesh Nagar Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.