Guideline Value for Ganesh Street

Ganesh Street guideline value

The current guideline value of Ganesh Street is Rs 8,700 per sq.ft. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Ganesh Street has changed

In the 2023 revision, the guideline value for Ganesh Street was Rs 8,000 per sq.ft. The most recent 2024 revision has increased this value to Rs 8,700 per sq.ft, reflecting a change of +9% from the previous year. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

From the 2023 to 2024 revision, the increase in the guideline value indicates a notable adjustment in property valuation. The current guideline value of Rs 8,700 per sq.ft is effective from 1 July 2024.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Ganesh Street's 2024 figure slightly below this median.

• Ganesapuram Cross Street: Rs 7,700 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Ganesh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 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 1

The guideline value plays a critical role in the registration process of property transactions in Mylapore Part 1. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is legally compliant.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property registration. Understanding these values can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Ganesh Street?

The current guideline value of Ganesh Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, which is a change of +9%.

What is the land classification for Ganesh Street?

Ganesh Street is classified as Residential Class I Type - III under the Chennai Central Joint I SRO.

Where is the Sub Registrar Office for Ganesh Street located?

The Sub Registrar Office for Ganesh Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Ganesh Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a total cost of Rs 7,83,000 in stamp duty and registration fees.