Guideline Value for GANESAN AVENUE

Ganesan Avenue guideline value

The current guideline value of Ganesan Avenue is Rs 2,750 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 Ganesan Avenue is Residential Special Type - I.

How the guideline value of Ganesan Avenue has changed

In the 2012 revision, the guideline value for Ganesan Avenue was Rs 2,500 per sq.ft. This figure remained the same through the 2023 revision, which also recorded Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of the 2024 revision. The median guideline value in this area is Rs 1,650 per sq.ft, and Ganesan Avenue's 2024 figure is above this median.

• Ganesan Street: Rs 1,110 per sq.ft (2024)
• Gandhi Street: Rs 1,320 per sq.ft (2024)
• Gandhi Nagar Pilliyarkoil 2nd Street: Rs 1,110 per sq.ft (2024)
• Gandhi Nagar Pilliyarkoil 1st Street: Rs 1,110 per sq.ft (2024)
• Gandhi Nagar Pilliar Kovil 2nd Street: Rs 1,110 per sq.ft (2024)
• Gandhi Nagar Pilliar Kovil 1st Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ganesan Avenue?

The Sub Registrar Office that covers Ganesan Avenue 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 plays a crucial role when buying or selling property in Pallikaranai. It is used to determine the stamp duty and registration fees applicable to the transaction. These fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should always refer to the latest guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ganesan Avenue?

The current guideline value of Ganesan Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, marking a 10% rise. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What are the guideline values of other streets in Pallikaranai?

Other streets in Pallikaranai have varying guideline values, with Ganesan Street at Rs 1,110 per sq.ft and Gandhi Street at Rs 1,320 per sq.ft as of 2024. The values range from Rs 1,110 to Rs 8,580 per sq.ft across the 749 streets in the village.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 2,750 per sq.ft incurs a total fee of Rs 2,47,500.

Where can I find the Sub Registrar Office for Ganesan Avenue?

The Sub Registrar Office for Ganesan Avenue 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 more information about this office online.