Guideline Value for Ganapathy Colony

Ganapathy Colony guideline value

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

How the guideline value of Ganapathy Colony has changed

The guideline value for Ganapathy Colony has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 8,700 per sq.ft, reflecting a 9% increase from the 2023 revision of Rs 8,000 per sq.ft. The register has no figure for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the last recorded guideline value was Rs 8,000 per sq.ft. The 2024 revision marks a significant adjustment, as it is the only figure available for the years mentioned. This change indicates a shift in the valuation of properties in the area.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry 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. Ganapathy Colony's current guideline value is below this median.

• Ganapathy Colony 1st Street: Rs 8,700 per sq.ft (2024)
• Ganapathy Colony 2nd Street: Rs 8,700 per sq.ft (2024)
• Ganapathy Colony 3rd Street: Rs 8,700 per sq.ft (2024)
• Ganapathy Colony Main Road: Rs 8,700 per sq.ft (2024)
• Ganapathy Mudali Street: Rs 8,700 per sq.ft (2024)
• Ganapathy Nagar Road: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total cost for these fees to Rs 7,83,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathy Colony?

The Ganapathy Colony area is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Mylapore Part 2. It serves as a baseline for determining the stamp duty and registration fees applicable to the sale or purchase of properties in the area.

When a property is sold, the guideline value is referenced to ensure that the transaction is recorded accurately and that the appropriate fees are collected. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ganapathy Colony?

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

How has the guideline value changed recently?

Recently, the guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, marking a 9% increase.

What is the registration office for Ganapathy Colony?

The registration office for Ganapathy Colony is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What are the stamp duty and registration fees for a property in Ganapathy Colony?

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 in fees.

Where can I find more information about the guideline values?

More information about the guideline values can be found in the Registration Department's guideline value register (TNReginet).