Guideline Value for Ganesapuram 1st Street

Ganesapuram 1st Street guideline value

The current guideline value of Ganesapuram 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ganesapuram 1st Street has changed

In the 2023 revision, the guideline value was Rs 7,000 per sq.ft. The current 2024 revision has increased this value to Rs 7,700 per sq.ft, marking a change of +10%. The register has no figure for Ganesapuram 1st Street for the years 2002, 2003, 2007, 2012, and 2017.

As per the available revisions, the guideline value for Ganesapuram 1st Street has seen a rise from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. This increase reflects the adjustments made in the guideline values across various streets in the region.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 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. Ganesapuram 1st Street's 2024 figure is below this median.

• Ganesapuram 2nd Street: Rs 7,700 per sq.ft (2024)
• Ganesapuram 3rd Street: Rs 7,700 per sq.ft (2024)
• Ganesapuram 4th Street: Rs 7,700 per sq.ft (2024)
• Ganesapuram 5th Street: Rs 7,700 per sq.ft (2024)
• Ganesapuram 6th Street: Rs 7,700 per sq.ft (2024)
• Ganesapuram Cross Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesapuram 1st Street

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesapuram 1st Street?

The Ganesapuram 1st Street falls under 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 details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor when registering property in Mylapore Part 1. It serves as a benchmark for calculating the stamp duty and registration fees during property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions as determined by the registration department.

Frequently asked questions

What is the current guideline value of Ganesapuram 1st Street?

The current guideline value of Ganesapuram 1st 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 changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Ganesapuram 1st Street?

Ganesapuram 1st Street is classified as Residential Class II Type - I. This classification is important for determining the applicable guideline value and regulations.

What are the stamp duty and registration fees for properties in Ganesapuram 1st Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ganesapuram 1st Street?

The Sub Registrar Office covering Ganesapuram 1st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.