Guideline Value for Ganesh Nagar, Ponniammanmedu (Ward-23)

Ganesh Nagar, Ponniammanmedu (Ward-23) guideline value

The current guideline value for Ganesh Nagar, Ponniammanmedu (Ward-23) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is part of Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Ganesh Nagar, Ponniammanmedu (Ward-23) has changed

The guideline value for Ganesh Nagar, Ponniammanmedu has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, in 2017, the guideline value was Rs 1,340 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision recorded a value of Rs 1,200 per sq.ft, which represents a 12% increase from 2012 to 2017.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 83%, reflecting the changes in property values over the years.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Ganesh Nagar, Ponniammanmedu (Ward-23) is above this median.

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

Stamp duty and registration fee for property in Ganesh Nagar, Ponniammanmedu (Ward-23)

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, bringing the total fees together to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar, Ponniammanmedu (Ward-23)?

The Sub Registrar Office that covers Ganesh Nagar, Ponniammanmedu (Ward-23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Madhavaram. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must ensure that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers as it affects the overall cost of property transactions. It is advisable to check the current guideline value before proceeding with any property dealings in the area.

Frequently asked questions

What is the current guideline value for Ganesh Nagar, Ponniammanmedu (Ward-23)?

The current guideline value for Ganesh Nagar, Ponniammanmedu (Ward-23) 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 increased from Rs 1,200 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 83% over the twelve years.

What were the guideline values in previous years?

The guideline values were Rs 1,200 per sq.ft in 2012, Rs 1,340 per sq.ft in 2017, Rs 2,000 per sq.ft in 2023, and Rs 2,200 per sq.ft in 2024.

Is there any guideline value for Ganesh Nagar in 2002, 2003, or 2007?

No, the register has no figures for Ganesh Nagar for the years 2002, 2003, and 2007.

Where can I find the Madhavaram Sub Registrar Office?

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