Guideline Value for Ganapathi Street

Ganapathi Street guideline value

The current guideline value of Ganapathi Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village under the Alandur SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Ganapathi Street has changed

The guideline value for Ganapathi Street has seen several revisions over the years. In 2002, the guideline value was Rs 247 per sq.ft, which increased to Rs 281 per sq.ft in 2003. The value then rose significantly to Rs 700 per sq.ft in 2007, followed by a substantial jump to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value was revised again to Rs 2,500 per sq.ft in 2023, and the most recent revision set it at Rs 2,800 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was a 14% increase; from 2003 to 2007, the rise was 149%; the value increased by 257% from 2007 to 2012; there was a decrease of 33% from 2012 to 2017; a 49% increase occurred from 2017 to 2023; and finally, there was a 12% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,034%.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 3,900 per sq.ft. Ganapathi Street's 2024 figure is below this median.

• First Main Road Part: Rs 4,400 per sq.ft (2024)
• Gandhi Road Lane: Rs 4,400 per sq.ft (2024)
• Gandhi Street: Rs 4,400 per sq.ft (2024)
• Elangovadigal Street: Rs 3,300 per sq.ft (2024)
• Dr Ambethkar Street: Rs 4,400 per sq.ft (2024)
• Govindasamy Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ganapathi Street?

The Sub Registrar Office that covers Ganapathi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Nanganallur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. This ensures that the transaction is recorded at a value that reflects the official rates set by the government.

When registering a property, buyers must pay stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ganapathi Street?

The current guideline value of Ganapathi Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 247 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, which reflects an overall increase of 1,034% since 2002.

What is the land classification for Ganapathi Street?

Ganapathi Street is classified under Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for properties in Ganapathi Street?

The stamp duty rate for properties in Ganapathi Street is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Ganapathi Street located?

The Sub Registrar Office for Ganapathi Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.