Guideline Value for GANAPATHY 5TH STREET AVVAI NAGAR )

Ganapathy 5th Street Avvai Nagar ) guideline value

The current guideline value of Ganapathy 5th Street Avvai Nagar 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 Ganapathy 5th Street Avvai Nagar ) has changed

The guideline value for Ganapathy 5th Street Avvai Nagar has undergone several revisions over the years. The earliest recorded figure in the register is from 2012, which was Rs 6,500 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 4,355 per sq.ft. However, from 2017 to 2023, the guideline value saw a significant increase to Rs 6,500 per sq.ft, followed by another increase to Rs 7,150 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Overall, the guideline value has changed from Rs 6,500 in 2012 to Rs 7,150 in 2024, reflecting a 10% increase over the twelve-year period. The revisions for the years 2002, 2003, and 2007 have no figures recorded in the register 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, with a median value of Rs 9,900 per sq.ft. The guideline value of Ganapathy 5th Street Avvai Nagar is below this median.

• Ganapathy 4th Street: Rs 7,150 per sq.ft (2024)
• Ganapathy 6th Street Avvai Nagar: Rs 7,150 per sq.ft (2024)
• Ganapathy 3rd 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 2nd Street (Avvai Nagar): Rs 7,150 per sq.ft (2024)
• Ganapathy 1st Street (P.T.C. Colony) and Joint: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy 5th Street Avvai Nagar )

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value amounts to Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathy 5th Street Avvai Nagar )?

The Ganapathy 5th Street Avvai Nagar is covered 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. You can find your SRO for more information.

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 a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value based on the prevailing rates in the area.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Ganapathy 5th Street Avvai Nagar )?

The current guideline value of Ganapathy 5th Street Avvai Nagar 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 6,500 in 2012 to Rs 4,355 in 2017, then increased to Rs 6,500 in 2023, and finally to Rs 7,150 in 2024.

What is the land classification for Ganapathy 5th Street Avvai Nagar )?

The land classification for Ganapathy 5th Street Avvai Nagar is Residential Class IV Type - I.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Ganapathy 5th Street Avvai Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 71,50,000, the stamp duty at 7% would be Rs 5,00,500.