Guideline Value for Ganapathy Mudali Street

Ganapathy Mudali Street guideline value

The current guideline value of Ganapathy Mudali 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 Mudali Street has changed

Over the years, the guideline value for Ganapathy Mudali Street has seen several revisions. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 8,000 per sq.ft, and the most recent 2024 revision increased it to Rs 8,700 per sq.ft, marking a change of +9% between these two revisions.

The 2024 revision reflects a significant update, bringing the value to Rs 8,700 per sq.ft. This increase is part of a broader adjustment within the Chennai Central Joint I SRO, where the guideline values are regularly reviewed to reflect current market conditions.

Guideline values in Mylapore Part 2

Mylapore Part 2 comprises 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Ganapathy Mudali Street's 2024 figure below this median.

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

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, while the registration fee at 2% would be Rs 1,74,000, bringing the total fees together to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ganapathy Mudali Street?

The Ganapathy Mudali Street is covered by 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 factor in property transactions in Mylapore Part 2, as it determines the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it ensures compliance with legal requirements and helps in understanding the financial implications of property transactions in the area.

Frequently asked questions

What is the current guideline value of Ganapathy Mudali Street?

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

How much has the guideline value changed recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a change of +9%.

What is the median guideline value for streets in Mylapore Part 2?

The median guideline value for streets in Mylapore Part 2 is Rs 8,800 per sq.ft, which is higher than the current guideline value of Ganapathy Mudali Street.

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

For a 1,000 sq.ft property, the guideline value is Rs 87,00,000, leading to a stamp duty of Rs 6,09,000 and a registration fee of Rs 1,74,000, totaling Rs 7,83,000.

Which office handles the registration for Ganapathy Mudali Street?

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