Guideline Value for Ganapathy Street

Ganapathy Street guideline value

The current guideline value of Ganapathy Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Ganapathy Street has changed

Over the years, the guideline value of Ganapathy Street has seen significant changes. The earliest recorded revision was in 2007, when the value was Rs 1,145 per sq.ft. This figure increased dramatically to Rs 7,000 per sq.ft in 2012, reflecting a rise of 511%. However, in 2017, the value dropped to Rs 4,690 per sq.ft, a decrease of 33%. The 2023 revision saw another increase to Rs 7,000 per sq.ft, followed by the current value of Rs 7,700 per sq.ft in 2024, marking a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for Ganapathy Street. Overall, from 2007 to 2024, the guideline value has increased by 572%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value in this area is Rs 6,600 per sq.ft, placing Ganapathy Street's 2024 figure above that median.

• Gajapathy Lala Street: Rs 5,500 per sq.ft (2024)
• Gaffur Street: Rs 6,600 per sq.ft (2024)
• Gaffur 3rd Lane: Rs 6,600 per sq.ft (2024)
• Gaffur 2nd Lane: Rs 6,600 per sq.ft (2024)
• Gaffur 1st Lane: Rs 6,600 per sq.ft (2024)
• Fire Wood Bank 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty is charged at 7%, amounting to Rs 5,39,000, and the registration fee is 2%, totaling Rs 1,54,000. Together, the total cost for stamp duty and registration fee would be Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathy Street?

The Sub Registrar Office that covers Ganapathy Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ganapathy Street?

The current guideline value of Ganapathy Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,145 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 572% over the years.

What is the land classification for Ganapathy Street?

Ganapathy Street is classified as Mixed Type - II, which indicates a diverse use of land in the area.

Where can I find the Triplicane Sub Registrar Office?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Ganapathy Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 77,00,000 would incur a stamp duty of Rs 5,39,000 at a rate of 7%.