Guideline Value for Ganesan Street (Parry Nagar)

Ganesan Street (Parry Nagar) guideline value

The current guideline value of Ganesan Street (Parry Nagar) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Ganesan Street (Parry Nagar) has changed

In the 2012 revision, the guideline value was Rs 5,000 per sq.ft. This figure decreased to Rs 3,350 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 5,000 per sq.ft in 2023, and further rose to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no figures available for Ganesan Street (Parry Nagar) in the revisions from 2002, 2003, and 2007.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Ganesan Street (Parry Nagar) above this median.

• Gandhi Street (Pari Nagar): Rs 5,500 per sq.ft (2024)
• Gandhi Street: Rs 4,900 per sq.ft (2024)
• Ganga Colony (1st Avenue): Rs 11,000 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 4,900 per sq.ft (2024)
• Gangai Kondan Salai: Rs 3,300 per sq.ft (2024)
• Ganapathy Naicken Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesan Street (Parry Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. Please 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 Ganesan Street (Parry Nagar)?

The Sub Registrar Office that covers Ganesan Street (Parry Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kodambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the established rates set by the Registration Department.

When a property is sold or purchased, the guideline value is compared to the sale price, and the higher of the two amounts is used to determine the applicable duties and fees. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ganesan Street (Parry Nagar)?

The current guideline value of Ganesan Street (Parry Nagar) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Ganesan Street (Parry Nagar)?

Ganesan Street (Parry Nagar) is classified as Residential Class III Type - I.

Where can I find the registration office for Ganesan Street (Parry Nagar)?

The registration office covering Ganesan Street (Parry Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Ganesan Street (Parry Nagar), the current guideline value is used to determine the applicable stamp duty and registration fees during the property transaction.