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 2 village, under the Chennai Central Joint I SRO, and is classified as 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 over the years. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, reflecting a 10% increase from the 2023 revision, which was Rs 7,000 per sq.ft. Notably, there are no figures available for this street in the register for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value was not specified for the aforementioned years. The 2024 revision indicates a significant increase compared to the previous year, marking a notable change in the guideline value for Ganesapuram 6th Street.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 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, placing Ganesapuram 6th Street's 2024 figure below that 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 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesapuram 6th Street?

The Ganesapuram 6th 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 2

When buying or selling property in Mylapore Part 2, the guideline value is a crucial factor that determines the stamp duty and registration fees payable at the time of registration. This value serves as a benchmark for the transaction, ensuring that the government receives the appropriate taxes based on the property's worth.

It is essential for buyers and sellers to be aware of the current guideline value, as it can influence the overall cost of the transaction. Understanding this value helps in making informed decisions during property dealings in the area.

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 has the guideline value changed over the years?

The guideline value has 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 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Ganesapuram 6th Street?

Ganesapuram 6th Street is classified as Residential Class II Type - I, indicating its designation for residential use within the area.

What is the stamp duty for property in Ganesapuram 6th Street?

The stamp duty for property in Ganesapuram 6th Street is 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000.

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

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