Guideline Value for GANAPATHYPURAM 2ND STREET

Ganapathypuram 2nd Street guideline value

The current guideline value of Ganapathypuram 2nd 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 is classified as Residential Class IV Type - I.

How the guideline value of Ganapathypuram 2nd Street has changed

Over the years, the guideline value of Ganapathypuram 2nd Street has seen several revisions. The earliest available figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,500 per sq.ft. The most recent revision in 2024 saw an increase of 10%, bringing the guideline value to Rs 1,650 per sq.ft.

The register has no figure for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 aligns with the guideline value of Ganapathypuram 2nd Street.

• Ganapathypuram 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Ganapathypuram 3rd Street: Rs 1,650 per sq.ft (2024)
• Ganapathypuram 1st 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 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 to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathypuram 2nd Street?

The Sub Registrar Office that covers Ganapathypuram 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 Pallikaranai

The guideline value serves as a benchmark for property transactions in Pallikaranai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. The guideline value ensures that the property is registered at a fair value, reflecting the current market conditions.

Frequently asked questions

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

The current guideline value of Ganapathypuram 2nd 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 for Ganapathypuram 2nd Street?

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

Where can I find the Sub Registrar Office for Ganapathypuram 2nd Street?

The Sub Registrar Office for Ganapathypuram 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.

How is the stamp duty calculated for properties in Ganapathypuram 2nd Street?

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