Guideline Value for MahaGanapathy Street

MahaGanapathy Street guideline value

The current guideline value of MahaGanapathy Street is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Palnalloor village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of MahaGanapathy Street has changed

The guideline value for MahaGanapathy Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 250 per sq.ft. This remained unchanged until the 2017 revision, where the value decreased to Rs 167 per sq.ft, marking a 33% drop. Following this, the 2023 revision restored the value back to Rs 250 per sq.ft, and the current 2024 revision maintains this figure, showing no change from the previous year.

In summary, from the 2012 revision to the 2024 revision, the guideline value has remained at Rs 250 per sq.ft, with a notable increase of 50% from Rs 167 in 2017 to Rs 250 in 2023.

Guideline values in Palnalloor

In Palnalloor, there are 34 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 175 to Rs 471 per sq.ft. The median value for these streets is Rs 200 per sq.ft, positioning MahaGanapathy Street's 2024 figure above this median.

• Madurai Meenakshi Nagar: Rs 200 per sq.ft (2024)
• Maruthi Nagar: Rs 200 per sq.ft (2024)
• Mathakovil Street: Rs 175 per sq.ft (2024)
• Mettu Street: Rs 175 per sq.ft (2024)
• Moorthi Nagar: Rs 200 per sq.ft (2024)
• Kalashetra Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in MahaGanapathy Street

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. 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 more details.

Which Sub Registrar Office covers MahaGanapathy Street?

The MahaGanapathy Street is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Palnalloor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in accordance with government regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of MahaGanapathy Street?

The current guideline value of MahaGanapathy Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then back to Rs 250 per sq.ft in 2023 and 2024.

What is the median guideline value of streets in Palnalloor?

The median guideline value of streets in Palnalloor is Rs 200 per sq.ft, with MahaGanapathy Street's current value being above this median.

What are the stamp duty and registration fees for property in MahaGanapathy Street?

For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 22,500, calculated based on the guideline value of Rs 2,50,000.

Where can I find the Sub Registrar Office for MahaGanapathy Street?

The Sub Registrar Office covering MahaGanapathy Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.