Guideline Value for GANAPATHYPURAM 3RD STREET

Ganapathypuram 3rd Street guideline value

The current guideline value of Ganapathypuram 3rd 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 3rd Street has changed

The guideline value for Ganapathypuram 3rd Street has seen several revisions over the years. The earliest recorded 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. The value then increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft as of the 2024 revision.

Between the revisions, the most notable changes include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 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 among these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Ganapathypuram 3rd Street.

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

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathypuram 3rd Street?

The Sub Registrar Office that covers Ganapathypuram 3rd 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 is a critical factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

The current guideline value of Ganapathypuram 3rd 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 is currently Rs 1,650 per sq.ft in 2024.

What is the land classification for Ganapathypuram 3rd Street?

The land classification for Ganapathypuram 3rd Street is Residential Class IV Type - I.

What is the registration office for Ganapathypuram 3rd Street?

The registration office for Ganapathypuram 3rd 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 3rd Street?

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