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 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ganesapuram 1st Street has changed

The guideline value for Ganesapuram 1st Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 7,000 per sq.ft, which increased to Rs 7,700 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for Ganesapuram 1st Street in the earlier revisions listed. The current figure reflects the latest valuation as of July 2024.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are a total of 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 in this area is Rs 8,800 per sq.ft, which means that the 2024 figure for Ganesapuram 1st Street 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 guideline value of Rs 7,700 per sq.ft, the total guideline value would be 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, resulting in a total of 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.

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

Which Sub Registrar Office covers Ganesapuram 1st Street?

The Sub Registrar Office that covers Ganesapuram 1st Street is 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 critical component in the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for calculating the stamp duty and registration fees that are payable during the transaction.

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 much has the guideline value changed recently?

From the 2023 revision of Rs 7,000 per sq.ft, the guideline value increased to Rs 7,700 per sq.ft in the 2024 revision, reflecting a change of +10%.

What is the median guideline value in Mylapore Part 2?

The median guideline value in Mylapore Part 2 is Rs 8,800 per sq.ft, which is higher than the current guideline value of Ganesapuram 1st Street.

What are the stamp duty and registration fees for properties in this area?

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.

Which office handles property registrations for Ganesapuram 1st Street?

The Chennai Central Joint I Sub Registrar Office handles property registrations for Ganesapuram 1st Street, located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014.