Guideline Value for GANAPATHI 3RD STREET

Ganapathi 3rd Street guideline value

The current guideline value of Ganapathi 3rd Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village under the Chennai South Joint I SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Ganapathi 3rd Street has changed

Over the years, the guideline value of Ganapathi 3rd Street has undergone several revisions. Starting from the 2002 revision, the guideline value was Rs 837 per sq.ft. This increased to Rs 926 per sq.ft in 2003, marking an 11% rise. The value then saw a significant jump to Rs 1,300 per sq.ft in 2007, which was a 40% increase. The 2012 revision set the value at Rs 6,500 per sq.ft, reflecting a substantial 400% increase from the previous revision. However, in 2017, the value dropped to Rs 4,355 per sq.ft, a decrease of 33%. The guideline value rose again to Rs 6,500 per sq.ft in 2023, before reaching the current figure of Rs 7,150 per sq.ft in 2024, which is a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable rise of 49%. Overall, from 2002 to 2024, the guideline value has increased by 754%. There are no figures available for other revisions for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry 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, placing Ganapathi 3rd Street's 2024 figure below that median.

• Ganapathi 2nd Street: Rs 7,150 per sq.ft (2024)
• Ganapathi 1st 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 3rd 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. Duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ganapathi 3rd Street?

The Ganapathi 3rd Street falls under 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value is used to determine the minimum sale price for registration purposes. This means that the seller cannot register the property for a price lower than the guideline value, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Ganapathi 3rd Street?

The current guideline value of Ganapathi 3rd 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, marking an overall increase of 754% over the years.

What is the land classification for Ganapathi 3rd Street?

Ganapathi 3rd Street is classified under Residential Class IV Type - I.

What are the stamp duty and registration fees for property in Ganapathi 3rd Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 6,43,500.

Which office handles registrations for Ganapathi 3rd Street?

The registrations for Ganapathi 3rd Street are handled by 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.