Guideline Value for GANASAPURAM SOUTH LANE

Ganasapuram South Lane guideline value

The current guideline value of Ganasapuram South Lane is Rs 3,300 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 - III.

How the guideline value of Ganasapuram South Lane has changed

The guideline value for Ganasapuram South Lane has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. However, the value decreased by 33% from the 2012 revision to the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore, 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 South Lane is below this median.

• Ganasapuram North Lane: Rs 4,900 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 South Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganasapuram South Lane?

The Ganasapuram South Lane falls under 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 is a crucial factor when registering property transactions in Mylapore. It determines the minimum value at which a property can be sold and is used to calculate stamp duty and registration fees during the transaction.

When a buyer or seller engages in a property transaction, the guideline value ensures that the property is registered at a fair value, which is essential for legal and tax purposes. Buyers should be aware that the guideline value may influence their overall costs during the buying process.

Frequently asked questions

What is the current guideline value of Ganasapuram South Lane?

The current guideline value of Ganasapuram South Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification of Ganasapuram South Lane?

Ganasapuram South Lane is classified as Residential Class V Type - III.

Where can I find the registration office for Ganasapuram South Lane?

The registration office for Ganasapuram South Lane is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Ganasapuram South Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 2,31,000.