Guideline Value for GANASAPURAM NORTH LANE

Ganasapuram North Lane guideline value

The current guideline value of Ganasapuram North Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO and is classified as Residential Class V Type - II.

How the guideline value of Ganasapuram North Lane has changed

Over the years, the guideline value for Ganasapuram North Lane has seen several revisions. The earliest recorded figure is from 2012, which was Rs 4,500 per sq.ft. This was followed by a decrease to Rs 3,015 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 4,500 per sq.ft, and the most recent revision in 2024 set the current value at Rs 4,900 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects an increase of 9%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 9%. There are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Ganasapuram North Lane is below this median.

• Ganasapuram South Lane: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar: Rs 3,300 per sq.ft (2024)
• Ganapathi Colony: Rs 8,800 per sq.ft (2024)
• Gajapathi Lala Street: Rs 7,100 per sq.ft (2024)
• Gajapathi Lala 2nd Lane: Rs 4,900 per sq.ft (2024)
• Gajapathi Lala 1st Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ganasapuram North Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganasapuram North Lane?

The Ganasapuram North Lane falls under the jurisdiction of the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mylapore. It is used to determine the stamp duty and registration fees payable when buying or selling property. The guideline value is set by the government and is updated periodically to reflect market conditions.

When a property is registered, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, maintaining transparency and accountability in the real estate market.

Frequently asked questions

What is the current guideline value of Ganasapuram North Lane?

The current guideline value of Ganasapuram North Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then back to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,900 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Ganasapuram North Lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 49,00,000, with stamp duty at Rs 3,43,000 and registration fee at Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers Ganasapuram North Lane?

The Mylapore Sub Registrar Office covers Ganasapuram North Lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification of Ganasapuram North Lane?

Ganasapuram North Lane is classified as Residential Class V Type - II, indicating its use for residential purposes.