Guideline Value

Corporate

Guideline Value for Ganapathy Colony 2nd Street

₹8700/sq.ft.

The guideline value for Ganapathy Colony 2nd Street in Mylapore Part 2 village (Chennai Central Joint I SRO, Chennai zone) is Rs 8700 per sq.ft, effective 1 July 2024. It was Rs 8000 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Mylapore Part 2

Village

Chennai Central Joint I

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹8700 /sq.ft.
From 1-4-2023 ₹8000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.182 Bharati Salai(pycrafts Road) Royapettah, Chennai-600014
044-28613608
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ganapathy Colony 2nd Street

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Ganapathy Colony 2nd Street guideline value

The current guideline value of Ganapathy Colony 2nd Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ganapathy Colony 2nd Street has changed

Over the years, the guideline value of Ganapathy Colony 2nd Street has seen several revisions. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The last recorded values are Rs 8,000 per sq.ft for the year 2023 and Rs 8,700 per sq.ft for the year 2024, reflecting an increase of 9% from the previous year.

The 2024 revision shows a significant adjustment in the guideline value, moving from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. This increase indicates a change in the valuation standards applied to this street within the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Ganapathy Colony 2nd Street is below this median.

Stamp duty and registration fee for property in Ganapathy Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, making the total charges Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ganapathy Colony 2nd Street?

The Ganapathy Colony 2nd Street falls under the jurisdiction of the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial reference point for property transactions in Mylapore Part 2. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency and integrity in the real estate market.

Frequently asked questions

What is the current guideline value of Ganapathy Colony 2nd Street?

The current guideline value of Ganapathy Colony 2nd Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% rise. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000. Duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office is responsible for Ganapathy Colony 2nd Street?

The Chennai Central Joint I Sub Registrar Office is responsible for Ganapathy Colony 2nd Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Ganapathy Colony 2nd Street?

The land classification for Ganapathy Colony 2nd Street is Residential Class I Type - III, indicating its suitability for residential purposes.