Guideline Value for GANESAPURAM

Ganesapuram guideline value

The current guideline value of Ganesapuram, located in Perambur village under the Purasaivakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Ganesapuram has changed

The guideline value for Ganesapuram has seen several revisions over the years. In 2002, the value was Rs 420 per sq.ft, which increased to Rs 461 per sq.ft in 2003. Following this, the value rose significantly to Rs 550 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024.

The changes between revisions indicate fluctuations in the guideline value. From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The sharp increase from 2007 to 2012 was 264%, and from 2003 to 2007, it rose by 19%. Overall, from 2002 to 2024, the guideline value has increased by 424%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Ganesapuram's current guideline value is below this median.

• Ganesapuram 1st Street: Rs 2,200 per sq.ft (2024)
• Ganesapuram 2nd Street: Rs 2,200 per sq.ft (2024)
• Ganesapuram 3rd Street: Rs 2,200 per sq.ft (2024)
• Ganesapuram Main Road: Rs 2,200 per sq.ft (2024)
• Gandhipuram Road: Rs 2,200 per sq.ft (2024)
• Gandhipuram: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesapuram?

The Sub Registrar Office that covers Ganesapuram is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for additional details.

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

The guideline value plays a crucial role in property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganesapuram?

The current guideline value of Ganesapuram is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 420 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 424% over this period.

What is the registration office for Ganesapuram?

The Purasaivakkam Sub Registrar Office covers Ganesapuram, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Ganesapuram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.

What other streets in Perambur have the same guideline value?

Other streets in Perambur, such as Ganesapuram 1st Street, Ganesapuram 2nd Street, Ganesapuram 3rd Street, Ganesapuram Main Road, Gandhipuram Road, and Gandhipuram, all share the same guideline value of Rs 2,200 per sq.ft in 2024.