Guideline Value for Ganesh Street

Ganesh Street guideline value

The current guideline value of Ganesh Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Ganesh Street has changed

The guideline value for Ganesh Street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft. This figure increased by 9% to Rs 8,700 per sq.ft in the 2024 revision.

With the current guideline value of Rs 8,700 per sq.ft, it reflects the most recent update. The previous revisions, where figures were available, show a steady increase from Rs 8,000 in 2023 to Rs 8,700 in 2024.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, making Ganesh Street's 2024 figure 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, leading to a total of 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.

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

Which Sub Registrar Office covers Ganesh Street?

Ganesh Street falls under the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role in property transactions in Mylapore Part 2. It is used to determine the stamp duty and registration fees that are applicable when registering a property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction price. The registration process requires that the applicable duties are calculated based on the guideline value or the sale price, whichever is higher, ensuring that all parties are aware of their financial obligations.

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 has the guideline value changed over the years?

The guideline value for Ganesh Street increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Ganesh Street?

Ganesh Street is classified under Residential Class I Type - III land classification.

What are the stamp duty and registration fees for properties in Ganesh Street?

For a 1,000 sq.ft property, the total guideline value is Rs 87,00,000. The stamp duty is Rs 6,09,000 and the registration fee is Rs 1,74,000, totaling Rs 7,83,000.

Where is the Sub Registrar Office for Ganesh Street located?

The Chennai Central Joint I Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.