Guideline Value for Ganapathi 2nd Street

Ganapathi 2nd Street guideline value

The current guideline value of Ganapathi 2nd Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ganapathi 2nd Street has changed

The guideline value for Ganapathi 2nd Street has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012. However, it decreased to Rs 871 per sq.ft in 2017. The value then rose to Rs 1,300 per sq.ft in 2023 before reaching the current value of Rs 1,400 per sq.ft in 2024. There are no figures available for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it rose by 8%. Notably, the overall increase from 2007 to 2024 is a substantial 250%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Ganapathi 2nd Street is below this median.

• Ganapathi 1st Street: Rs 1,400 per sq.ft (2024)
• Ganapathi 3rd Street: Rs 1,400 per sq.ft (2024)
• Ganapathi 4th Street: Rs 1,400 per sq.ft (2024)
• Ganapathi Anthony Street: Rs 1,400 per sq.ft (2024)
• Ganapathi Nagar: Rs 1,400 per sq.ft (2024)
• Ganapathi Nagar Mugunthan Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, making the total cost for these fees Rs 1,26,000. It is important to 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 Ganapathi 2nd Street?

The Ganapathi 2nd Street falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the sale price is compared to the guideline value, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganapathi 2nd Street?

The current guideline value of Ganapathi 2nd Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 250% over the years.

What are the stamp duty and registration fees for properties in Ganapathi 2nd Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 14,00,000, the total fees would be Rs 1,26,000.

Which office handles registrations for Ganapathi 2nd Street?

The Ambattur Sub Registrar Office handles registrations for Ganapathi 2nd Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai.

What is the land classification for Ganapathi 2nd Street?

The land classification for Ganapathi 2nd Street is Residential Class III Type - I.