Guideline Value for Ganapathipuram South Street

Ganapathipuram South Street guideline value

The current guideline value of Ganapathipuram South Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Ganapathipuram South Street has changed

The guideline value for Ganapathipuram South Street has undergone several revisions over the years. The 2007 revision set the value at Rs 650 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012, marking a rise of 254%. However, the value then decreased to Rs 1,541 per sq.ft in 2017, a decline of 33%. The subsequent revision in 2023 raised it to Rs 2,300 per sq.ft, and the latest revision in 2024 has increased it further to Rs 2,530 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 289%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Ganapathipuram South Street's 2024 value above this median.

• Ganapathipuram North Street: Rs 2,530 per sq.ft (2024)
• Ganapathipuram Cross Street(Ashok Nagar South): Rs 2,530 per sq.ft (2024)
• Forest Colony: Rs 1,320 per sq.ft (2024)
• Erikarai Street: Rs 2,530 per sq.ft (2024)
• Gangai Street: Rs 2,200 per sq.ft (2024)
• Gayathiri Colony ( Gayathiri Nagar ): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathipuram South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathipuram South Street?

The Ganapathipuram South Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential reference when buying or selling property in Irumpuliyur. It is used to determine the stamp duty and registration fees applicable during the registration process at the Sub Registrar Office.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a value that reflects the official rates set by the government. This process helps maintain transparency and compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value for Ganapathipuram South Street?

The current guideline value for Ganapathipuram South Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, showing an overall increase of 289% over the years.

What is the land classification for Ganapathipuram South Street?

Ganapathipuram South Street is classified as Residential Special Type - I under the current land classification.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which office handles the registration for Ganapathipuram South Street?

The registration for Ganapathipuram South Street is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.