Guideline Value for Ganesapuram 2nd Street

Ganesapuram 2nd Street guideline value

The current guideline value of Ganesapuram 2nd Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Ganesapuram 2nd Street has changed

According to the guideline value register, there are no figures for Ganesapuram 2nd Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 7,000 per sq.ft, which was then increased to Rs 7,700 per sq.ft in the 2024 revision, reflecting a change of +10%.

The 2024 revision is the most recent and shows an increase from the previous year. The guideline value for Ganesapuram 2nd Street is now established at Rs 7,700 per sq.ft, marking a significant update in the valuation of this property.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value of these streets is Rs 8,800 per sq.ft, indicating that Ganesapuram 2nd Street's 2024 figure is below this median.

• Ganesapuram 1st 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 2nd 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, together totaling Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ganesapuram 2nd Street?

The Ganesapuram 2nd Street is covered by 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 additional information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a critical factor during property registration in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is sold or purchased.

When a buyer or seller approaches the registration office, the guideline value will be used to calculate the applicable fees, ensuring that all transactions adhere to the established rates set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ganesapuram 2nd Street?

The current guideline value of Ganesapuram 2nd Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, representing an increase of 10%.

What are the guideline values for other streets in Mylapore Part 2?

Other streets in Mylapore Part 2 have guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft.

What are the stamp duty and registration fees for Ganesapuram 2nd Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 6,93,000, based on the current guideline value.

Where is the Sub Registrar Office for Ganesapuram 2nd Street located?

The Sub Registrar Office for Ganesapuram 2nd Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.