Guideline Value for GANAPATHYPURAM 2ND CROSS STREET

Ganapathypuram 2nd Cross Street guideline value

The current guideline value of Ganapathypuram 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and falls under the Residential Class IV Type - I land classification.

How the guideline value of Ganapathypuram 2nd Cross Street has changed

The guideline value for Ganapathypuram 2nd Cross Street has undergone several revisions over the years. The 2012 revision recorded a value of Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, the value rose by 49% from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Ganapathypuram 2nd Cross Street.

• Ganapathypuram 1st 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 2nd Cross 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, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ganapathypuram 2nd Cross Street?

The Ganapathypuram 2nd Cross 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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Pallikaranai. It serves as a benchmark for determining 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, the guideline value is compared with the sale price. The higher of the two values will be used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Ganapathypuram 2nd Cross Street?

The current guideline value of Ganapathypuram 2nd Cross 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 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Ganapathypuram 2nd Cross Street?

Ganapathypuram 2nd Cross Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Ganapathypuram 2nd Cross 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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000.