Guideline Value for Ganesh Avenue 8th Street 1st Lane

Ganesh Avenue 8th Street 1st Lane guideline value

The current guideline value of Ganesh Avenue 8th Street 1st Lane 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 8th Street 1st Lane has changed

Over the years, the guideline value for Ganesh Avenue 8th Street 1st Lane has experienced several revisions. The earliest recorded revision in 2012 set the value at Rs 3,200 per sq.ft. However, in 2017, the value decreased to Rs 2,144 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 3,200 per sq.ft in 2023, and then rose again to Rs 3,520 per sq.ft in 2024, representing a 10% increase from the previous year.

The current guideline value reflects an overall increase of 10% from the 2012 revision. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value of Rs 3,520 per sq.ft for Ganesh Avenue 8th Street 1st Lane is below this median.

• Ganesh Avenue 7th Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 8th Street 2nd Lane: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 6th Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 9th Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 5th Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue Main Road: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Avenue 8th Street 1st Lane

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, leading to a total cost of Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ganesh Avenue 8th Street 1st Lane?

The Ganesh Avenue 8th Street 1st Lane is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable stamp duty and registration fees. Buyers should be aware that the duty is charged based on the higher amount between the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value for Ganesh Avenue 8th Street 1st Lane?

The current guideline value for Ganesh Avenue 8th Street 1st Lane 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 increased 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 8th Street 1st Lane?

Ganesh Avenue 8th Street 1st Lane is classified as Residential Special Type - II.

Where can I find the registration office for this area?

The Kunrathur Sub Registrar Office, which covers Ganesh Avenue 8th Street 1st Lane, is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 35,20,000 would incur a stamp duty of Rs 2,46,400 at a rate of 7%.