Guideline Value for Ganesapuram Cross Street

Ganesapuram Cross Street guideline value

The current guideline value of Ganesapuram Cross 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 is classified as Residential Class II Type - I.

How the guideline value of Ganesapuram Cross Street has changed

There are no figures available for Ganesapuram Cross Street for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 7,000 per sq.ft in the 2023 revision, which increased to Rs 7,700 per sq.ft in the 2024 revision, reflecting a change of +10%.

In summary, the current guideline value of Rs 7,700 per sq.ft is the most recent figure, following the 2023 revision of Rs 7,000 per sq.ft. The consistent upward revision indicates a shift in the valuation of properties in this area.

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 Cross Street's value below this median.

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

For a 1,000 sq.ft plot at the current guideline value rate of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total cost for these fees to Rs 6,93,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Ganesapuram Cross Street?

The Sub Registrar Office that covers Ganesapuram Cross 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 1

The guideline value is a crucial factor in property transactions in Mylapore Part 1, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the registration process.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Ganesapuram Cross Street?

The current guideline value of Ganesapuram Cross 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 increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a +10% change. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft. Ganesapuram Cross Street's current value is below this median.

What are the stamp duty and registration fees for properties in Ganesapuram Cross Street?

For a 1,000 sq.ft plot, the total stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Ganesapuram Cross Street?

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