Guideline Value for Ganesapuram 6th Street

Ganesapuram 6th Street guideline value

The current guideline value of Ganesapuram 6th 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. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ganesapuram 6th Street has changed

The guideline value for Ganesapuram 6th Street has undergone several revisions. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 7,000 per sq.ft, and it increased by 10% to Rs 7,700 per sq.ft in the 2024 revision.

This change from 2023 to 2024 reflects a notable increase in the guideline value. The current value is now aligned with several other streets in the area, indicating a uniformity in the guideline values across Ganesapuram streets.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Ganesapuram 6th Street's value below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value totals 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesapuram 6th Street?

The Sub Registrar Office that covers Ganesapuram 6th 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 1. It is used to determine the stamp duty and registration fees that buyers must pay when completing a property purchase.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Ganesapuram 6th Street?

The current guideline value of Ganesapuram 6th Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification for Ganesapuram 6th Street?

The land classification for Ganesapuram 6th Street is Residential Class II Type - I.

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.

Where can I find the Sub Registrar Office for Ganesapuram 6th Street?

The Sub Registrar Office for Ganesapuram 6th Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.