Guideline Value for Ganesh Avenue 7th Street

Ganesh Avenue 7th Street guideline value

The current guideline value of Ganesh Avenue 7th Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Ganesh Avenue 7th Street has changed

The guideline value for Ganesh Avenue 7th Street has seen several revisions over the years. The earliest recorded figure was Rs 3,200 per sq.ft in 2012, which then decreased to Rs 2,144 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,200 per sq.ft in 2023, before rising again to the current rate of Rs 3,520 per sq.ft in 2024. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Porur

In Porur village, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, placing Ganesh Avenue 7th Street's 2024 figure below this median.

• Ganesh Avenue 6th Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 8th Street 1st Lane: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 5th Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 8th Street 2nd Lane: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 4th Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 9th Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Avenue 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400. Together, these fees would total Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Ganesh Avenue 7th Street?

The Ganesh Avenue 7th Street is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial reference point used during the registration of property transactions in Porur. It helps determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

When buying or selling property, the guideline value serves as a benchmark for both parties involved in the transaction. It ensures transparency and fairness in the registration process, as it reflects the official value assigned to the property based on its location and classification.

Frequently asked questions

What is the current guideline value of Ganesh Avenue 7th Street?

The current guideline value of Ganesh Avenue 7th Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification for Ganesh Avenue 7th Street?

Ganesh Avenue 7th Street is classified as Residential Special Type - II under the Kunrathur SRO.

Where can I find the registration office for Ganesh Avenue 7th Street?

The registration office for Ganesh Avenue 7th Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current rate, the total fees would amount to Rs 3,16,800.