Guideline Value for Ganpathraj Nagar - 1st Street

Ganpathraj Nagar - 1st Street guideline value

The current guideline value of Ganpathraj Nagar - 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ganpathraj Nagar - 1st Street has changed

The guideline value for Ganpathraj Nagar - 1st Street has undergone several revisions over the years. The earliest figure recorded is from 2002, where the guideline value was Rs 400 per sq.ft. This increased to Rs 443 per sq.ft in 2003, marking an 11% rise. The value then saw a significant increase to Rs 750 per sq.ft in 2007, which was a 69% change. In 2012, the value rose to Rs 3,000 per sq.ft, reflecting a remarkable 300% increase from the previous revision. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, which represented a decline of 33%. The guideline value then increased again to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,300 per sq.ft in 2024, showing a 10% increase.

There are no figures available for the years between these revisions specifically for Ganpathraj Nagar - 1st Street. Overall, from 2002 to 2024, the guideline value has increased by 725%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Ganpathraj Nagar - 1st Street's current value below this median.

• Ganpathraj Nagar - 2nd Street: Rs 3,300 per sq.ft (2024)
• Ganpath Raj Nagar - Gandhi Road: Rs 4,400 per sq.ft (2024)
• Ganpathraj Nagar - Main Road: Rs 3,850 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 4,400 per sq.ft (2024)
• Gandhi Street: Rs 2,750 per sq.ft (2024)
• GANDHI NAGAR - VOC Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ganpathraj Nagar - 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganpathraj Nagar - 1st Street?

The Ganpathraj Nagar - 1st Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration laws.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the correct fees are paid to the government during the registration process.

Frequently asked questions

What is the current guideline value of Ganpathraj Nagar - 1st Street?

The current guideline value of Ganpathraj Nagar - 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 725%.

What is the median guideline value for streets in Virugambakkam?

The median guideline value for streets in Virugambakkam is Rs 4,400 per sq.ft, which is above the current value of Ganpathraj Nagar - 1st Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the current guideline value.

Where is the Sub Registrar Office for Ganpathraj Nagar - 1st Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.