Guideline Value for GANAPATHYPURAM 1ST STREET

Ganapathypuram 1st Street guideline value

The current guideline value of Ganapathypuram 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai 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 Ganapathypuram 1st Street has changed

The guideline value for Ganapathypuram 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 1,005 per sq.ft. In 2023, the value increased to Rs 1,500 per sq.ft, and the latest revision in 2024 has raised it to Rs 1,650 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a significant decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Ganapathypuram 1st Street.

• Ganapathypuram 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Ganapathypuram 2nd Street: Rs 1,650 per sq.ft (2024)
• Ganapathypuram 3rd Street: Rs 1,650 per sq.ft (2024)
• Ganapathypuram Main Road: Rs 1,650 per sq.ft (2024)
• Gandhi Cross Street: Rs 1,320 per sq.ft (2024)
• Gandhi Cross Street Extn: Rs 1,320 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, these fees total Rs 1,48,500. 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ganapathypuram 1st Street?

The Ganapathypuram 1st 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. For more details, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value or the sale price, whichever is higher, is considered for calculating the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Ganapathypuram 1st Street?

The current guideline value for Ganapathypuram 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10% over this period.

What are the stamp duty rates applicable in Ganapathypuram 1st Street?

The stamp duty rate applicable is 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.

Which office handles registrations for Ganapathypuram 1st Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Ganapathypuram 1st 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 Ganapathypuram 1st Street?

The land classification for Ganapathypuram 1st Street is Residential Class IV Type - I, indicating its suitability for residential purposes.