Guideline Value for Ganesapuram 5th Street

Ganesapuram 5th Street guideline value

The current guideline value of Ganesapuram 5th 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 it falls under the Residential Class II Type - I land classification.

How the guideline value of Ganesapuram 5th Street has changed

In the 2023 revision, the guideline value for Ganesapuram 5th Street was Rs 7,000 per sq.ft. The latest 2024 revision has increased this value to Rs 7,700 per sq.ft, marking a change of +10%. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Thus, the only revisions that show figures for Ganesapuram 5th Street are from 2023 and 2024. The increase in the guideline value reflects the latest assessment by the registration department.

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. The guideline value of Ganesapuram 5th Street is below this median.

• Ganesapuram 4th 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)
• Ganesapuram 3rd Street: Rs 7,700 per sq.ft (2024)
• Ganesapuram 2nd Street: Rs 7,700 per sq.ft (2024)
• Ganesapuram 1st Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesapuram 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total 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, bringing the total to 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 5th Street?

The Ganesapuram 5th 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 more information.

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

The guideline value plays a crucial role during the property registration process in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ganesapuram 5th Street?

The current guideline value of Ganesapuram 5th 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 to the 2024 revision, the guideline value increased from Rs 7,000 per sq.ft to Rs 7,700 per sq.ft, which is a change of +10%.

What is the land classification of Ganesapuram 5th Street?

Ganesapuram 5th Street falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for Ganesapuram 5th Street?

The Sub Registrar Office covering Ganesapuram 5th Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Ganesapuram 5th Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 6,93,000.