Guideline Value for GANAPATHI 2ND STREET

Ganapathi 2nd Street guideline value

The current guideline value of Ganapathi 2nd 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 2nd Street has changed

The guideline value for Ganapathi 2nd Street has seen several revisions over the years. In 2002, the value was Rs 837 per sq.ft, which 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 increase of 40%. However, between 2007 and 2012, the value experienced a decrease of 33%, settling at Rs 6,500 per sq.ft. In 2017, the guideline value rose to Rs 4,355 per sq.ft, a 49% increase from the previous revision. The most recent revision in 2023 set the value at Rs 6,500 per sq.ft, which increased by 10% to the current Rs 7,150 per sq.ft in 2024.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 reflects a substantial increase of 754% in the guideline value per sq.ft.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO carrying a guideline value for 2024, ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value of Ganapathi 2nd Street is below this median.

• Ganapathi 1st 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 2nd 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, and the registration fee at 2% would be Rs 1,43,000, bringing the total to Rs 6,43,500. Please note that 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 further calculations.

Which Sub Registrar Office covers Ganapathi 2nd Street?

The Sub Registrar Office that covers Ganapathi 2nd 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. 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 property registration in Thiruvanmiyur. 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, it is important to be aware of the guideline value, as it may influence negotiations and the final sale price. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Ganapathi 2nd Street?

The current guideline value of Ganapathi 2nd 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 from Rs 837 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 754% over the years.

What are the stamp duty and registration fees for property in Ganapathi 2nd Street?

For a property valued at the current guideline value of Rs 71,50,000, the stamp duty would be Rs 5,00,500 and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500.

Which Sub Registrar Office handles registrations for Ganapathi 2nd Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Ganapathi 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Ganapathi 2nd Street?

The land classification for Ganapathi 2nd Street is Residential Class IV Type - I, indicating its suitability for residential purposes.