Guideline Value for Ganesh Street

Ganesh Street guideline value

The current guideline value of Ganesh Street in Menambedu village, under the Ambattur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Ganesh Street has changed

The guideline value of Ganesh Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,600 per sq.ft. This figure then decreased to Rs 1,072 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,600 per sq.ft in the 2023 revision, and finally rose to Rs 1,700 per sq.ft in the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 shows a modest increase of 6%.

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. The median guideline value for these streets is Rs 1,003 per sq.ft, which means Ganesh Street's 2024 figure is above that median.

• Ganesh Street 1st Avenue: Rs 1,700 per sq.ft (2024)
• 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 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty, charged at 7%, would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total fees would be 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Street?

The Sub Registrar Office that covers Ganesh Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to property registration in Menambedu. It serves as the basis for calculating the stamp duty and registration fees that are applicable during the buying or selling process. Buyers and sellers should be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is documented accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Ganesh Street?

The current guideline value of Ganesh Street 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 2023 to Rs 1,700 per sq.ft in 2024, an increase of 6%. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012.

What is the land classification for Ganesh Street?

Ganesh Street is classified as Residential Special Type - I.

What are the other streets in Menambedu with similar guideline values?

Other streets in Menambedu include Ganesh Street 1st Avenue, Ganesh Street 1st Cross Street, Ganesh Street 2nd Main Street, Ganesh Street 5th Cross Road, and Ganesh Street 6th Cross Road, all valued at Rs 1,700 per sq.ft in 2024.

Where can I find the registration office for Ganesh Street?

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