Guideline Value for Ganesh Street 1st Avenue

Ganesh Street 1st Avenue guideline value

The current guideline value of Ganesh Street 1st Avenue is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO, classified as Residential Special Type - I.

How the guideline value of Ganesh Street 1st Avenue has changed

The guideline value for Ganesh Street 1st Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which was then reduced to Rs 1,072 per sq.ft in the 2017 revision. Following that, the 2023 revision increased it to Rs 1,600 per sq.ft, and the most recent 2024 revision has set it at Rs 1,700 per sq.ft.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 represents a 6% increase, leading to an overall increase of 6% from 2012 to 2024.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Ganesh Street 1st Avenue is above this median.

• Ganesh Street 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Ganesh Street 2nd Main Street: Rs 1,700 per sq.ft (2024)
• Ganesh Street: Rs 1,700 per sq.ft (2024)
• Ganesh Street 5th Cross Road: Rs 1,700 per sq.ft (2024)
• Ganesh Street 6th Cross Road: Rs 1,700 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Street 1st Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Ganesh Street 1st Avenue?

The Sub Registrar Office that covers Ganesh Street 1st Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Menambedu

The guideline value is a crucial factor during the registration of property transactions in Menambedu. It serves as a reference for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a baseline for pricing and ensures transparency in the transaction process. Buyers and sellers must be aware of the current guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ganesh Street 1st Avenue?

The current guideline value of Ganesh Street 1st Avenue is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the stamp duty for properties on Ganesh Street 1st Avenue?

The stamp duty for properties on Ganesh Street 1st Avenue is calculated at 7% of the guideline value or sale price, whichever is higher.

What is the registration fee for properties in this area?

The registration fee for properties in Ganesh Street 1st Avenue is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ganesh Street 1st Avenue located?

The Sub Registrar Office for Ganesh Street 1st Avenue is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.