Guideline Value for GANESAN STREET

Ganesan Street guideline value

The current guideline value of Ganesan Street in Vengathur village, under the Manavalanagar SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - III.

How the guideline value of Ganesan Street has changed

Looking at the historical revisions, the guideline value for Ganesan Street has seen several changes. In the 2007 revision, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision, marking a remarkable increase of 767%. However, from 2012 to 2017, the value decreased to Rs 871 per sq.ft, a drop of 33%. The value then rose again to Rs 1,300 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

The register has no figures for the years 2002 and 2003 for Ganesan Street. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values for 2024 ranging from Rs 500 to Rs 2,000 per sq.ft. The median value among these streets is Rs 1,000 per sq.ft, placing Ganesan Street's 2024 figure above this median.

• Gandhi Street (Kabilar Nagar): Rs 800 per sq.ft (2024)
• Gandhi Street: Rs 1,300 per sq.ft (2024)
• GANGAIAMMAN KOIL STREET(a)BHARTHASARATHY STREET: Rs 1,300 per sq.ft (2024)
• Gangatheeswarar Koil Street: Rs 1,300 per sq.ft (2024)
• Elumalai Street: Rs 600 per sq.ft (2024)
• Elumalai Naicker Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesan Street?

The Sub Registrar Office that covers Ganesan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to property transactions in Vengathur. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When registering a property, the guideline value serves as a benchmark for the minimum price at which the property can be sold. This ensures that the transaction is conducted at a fair value, reflecting the property’s worth as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Ganesan Street?

The current guideline value of Ganesan Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Ganesan Street?

Ganesan Street is classified as Commercial Class I Type - III.

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

The Sub Registrar Office for Ganesan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties in Ganesan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.