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 2 village and falls under the Chennai Central Joint I SRO with a land classification of Residential Class II Type - I.

How the guideline value of Ganesapuram Cross Street has changed

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

This change reflects a significant adjustment in the guideline value, moving from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. The increase indicates the updated valuation for properties in this area as per the latest revision.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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. Ganesapuram Cross Street's current guideline value is 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 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 fees 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesapuram Cross Street?

The Ganesapuram Cross 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 details.

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

The guideline value serves as a benchmark for property transactions in Mylapore Part 2. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are in accordance with government regulations.

It is crucial for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. The registration office relies on this value to ensure that properties are accurately assessed for taxation purposes.

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 for Ganesapuram Cross Street has seen revisions, with the 2023 value at Rs 7,000 per sq.ft, which increased to Rs 7,700 per sq.ft in 2024. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

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

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Ganesapuram Cross Street?

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

How is the guideline value determined for properties in Mylapore Part 2?

The guideline value is determined based on various factors and is updated periodically. It serves as a reference for assessing properties for taxation and is crucial for calculating stamp duty and registration fees during property transactions.