Guideline Value for GANAPATHI 1ST STREET

Ganapathi 1st Street guideline value

The current guideline value of Ganapathi 1st Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Ganapathi 1st Street has changed

The guideline value for Ganapathi 1st Street has seen several revisions over the years. In the 2002 revision, the value was set at Rs 837 per sq.ft. This figure increased to Rs 926 per sq.ft in 2003, marking an increase of 11%. The value further rose to Rs 1,300 per sq.ft in 2007, a significant jump of 40%. The 2012 revision saw the value at Rs 6,500 per sq.ft, reflecting a substantial increase of 400% from the previous revision. However, in 2017, the value decreased to Rs 4,355 per sq.ft, showing a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 6,500 per sq.ft, representing a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 7,150 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, there has been an increase of 754% in the guideline value for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, indicating that Ganapathi 1st Street's 2024 figure is below this median.

• Ganapathi 2nd Street: Rs 7,150 per sq.ft (2024)
• Ganapathi 3rd Street: Rs 7,150 per sq.ft (2024)
• Ganapathy 1st Street (P.T.C. Colony )and Joint: Rs 7,150 per sq.ft (2024)
• Ganapathy 2nd Street (Avvai Nagar): Rs 7,150 per sq.ft (2024)
• Ganapathy 2nd Street (P.T.C. Colony ): Rs 7,150 per sq.ft (2024)
• Ganapathy 3rd Street (Avvai Nagar): Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, while the registration fee at 2% would be Rs 1,43,000, bringing the total cost for these fees to Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate estimates based on your specific property details.

Which Sub Registrar Office covers Ganapathi 1st Street?

The Sub Registrar Office that covers Ganapathi 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvanmiyur. It serves as the benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid potential legal issues.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, making the process transparent and straightforward.

Frequently asked questions

What is the current guideline value of Ganapathi 1st Street?

The current guideline value of Ganapathi 1st Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 837 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 754% over this period.

What is the land classification for Ganapathi 1st Street?

Ganapathi 1st Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property in Ganapathi 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 71,50,000, with stamp duty at Rs 5,00,500 and registration fees at Rs 1,43,000, totaling Rs 6,43,500.

Which Sub Registrar Office covers Ganapathi 1st Street?

The Chennai South Joint I Sub Registrar Office covers Ganapathi 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.