Guideline Value for Ganesan Street

Ganesan Street guideline value

The current guideline value of Ganesan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ganesan Street has changed

The guideline value of Ganesan Street has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft. The 2023 revision raised it to Rs 2,000 per sq.ft, and the latest 2024 revision has further increased it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The overall increase from the 2007 revision to the current 2024 revision is 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Ganesan Street's current 2024 guideline value is below this median.

• Gandhi Street: Rs 3,300 per sq.ft (2024)
• Fathima Manzal Street: Rs 2,200 per sq.ft (2024)
• Elumalai Street: Rs 3,300 per sq.ft (2024)
• G.S.T. Road (PART): Rs 11,000 per sq.ft (2024)
• G.S.T.Road(Part Durga Road Junction): Rs 11,000 per sq.ft (2024)
• G.S.T.Road(Station Road Junction To Municipal Limit): Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Ganesan Street?

The Sub Registrar Office that covers Ganesan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Issa Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which ensures compliance with legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Ganesan Street?

The current guideline value of Ganesan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 450%.

What is the land classification for Ganesan Street?

Ganesan Street is classified as Residential Class II Type - I.

Where can I find more information about stamp duty and registration fees?

You can use the stamp duty and registration fee calculator for more information on calculating these fees.

Which office handles the registration for Ganesan Street?

The Pallavaram Sub Registrar Office handles the registration for Ganesan Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.