Guideline Value for Maga Ganapathy Street

Maga Ganapathy Street guideline value

The current guideline value of Maga Ganapathy Street is Rs 1,001 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO and falls under the Residential Class IV Type - I land classification.

How the guideline value of Maga Ganapathy Street has changed

The guideline value for Maga Ganapathy Street has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 has brought the guideline value to Rs 1,001 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a significant increase of 87%. Overall, from 2012 to 2024, the guideline value has increased by 25%.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, placing Maga Ganapathy Street's 2024 figure below that median.

• Madhavi Street: Rs 1,700 per sq.ft (2024)
• Madhavan Street: Rs 1,700 per sq.ft (2024)
• Lenin Street (gnanamurthy nagar): Rs 1,700 per sq.ft (2024)
• Mariyamman Koil Street: Rs 1,001 per sq.ft (2024)
• Lakshmi Colony: Rs 1,300 per sq.ft (2024)
• Kuppusamy Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Maga Ganapathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total cost to Rs 90,090. 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 Maga Ganapathy Street?

The Sub Registrar Office covering Maga Ganapathy Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial reference point during property transactions in Menambedu. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the baseline value of the property. This value is essential for legal documentation and property registration, ensuring transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Maga Ganapathy Street?

The current guideline value of Maga Ganapathy Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 1,001 per sq.ft in 2024, with notable increases and decreases in between, including a decrease to Rs 536 per sq.ft in 2017 and an increase to Rs 1,000 per sq.ft in 2023.

What is the stamp duty for a property in Maga Ganapathy Street?

The stamp duty for a property in Maga Ganapathy Street is calculated at 7% of the guideline value. For example, on a property valued at Rs 10,01,000, the stamp duty would be Rs 70,070.

Where can I find the Sub Registrar Office for Maga Ganapathy Street?

The Sub Registrar Office for Maga Ganapathy Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the guideline values of other streets in Menambedu?

Other streets in Menambedu have varying guideline values. For instance, Madhavi Street and Madhavan Street both have a guideline value of Rs 1,700 per sq.ft, while Mariyamman Koil Street and Kuppusamy Street share the same value as Maga Ganapathy Street at Rs 1,001 per sq.ft.