Guideline Value for GURU GANESH AVENUE PHASE -II

Guru Ganesh Avenue Phase -II guideline value

The current guideline value of Guru Ganesh Avenue Phase -II is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village under the Padappai SRO, classified as Mixed Special Type - II.

How the guideline value of Guru Ganesh Avenue Phase -II has changed

The guideline value for Guru Ganesh Avenue Phase -II has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,500 per sq.ft. This increased to Rs 2,750 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for the street in the earlier years mentioned. The most recent increase from 2023 to 2024 reflects a notable adjustment in the guideline value.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, positioning Guru Ganesh Avenue Phase -II above this median.

• Guru Ganesh Avenue Phase -III: Rs 3,700 per sq.ft (2024)
• Gurupatham Nagar: Rs 1,100 per sq.ft (2024)
• GR Nagar Extn 1 to 6: Rs 1,650 per sq.ft (2024)
• G.R.Nagar: Rs 1,650 per sq.ft (2024)
• Hidhyath Nagar: Rs 1,650 per sq.ft (2024)
• Hill Road Avenue: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Guru Ganesh Avenue Phase -II

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the 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, totaling Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Guru Ganesh Avenue Phase -II?

The Guru Ganesh Avenue Phase -II falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a value that reflects the prevailing market conditions. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Guru Ganesh Avenue Phase -II?

The current guideline value of Guru Ganesh Avenue Phase -II is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value was Rs 2,500 per sq.ft in 2023 and increased to Rs 2,750 per sq.ft in 2024, reflecting a +10% change. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Varadarajapuram?

The median guideline value for the 250 streets in Varadarajapuram is Rs 1,650 per sq.ft. Guru Ganesh Avenue Phase -II's current value is above this median.

What are the stamp duty and registration fees for property in Guru Ganesh Avenue Phase -II?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Guru Ganesh Avenue Phase -II?

The Padappai Sub Registrar Office handles registration for Guru Ganesh Avenue Phase -II, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.