Guideline Value for Kulasekaran Street / Ganapathy Nagar

Kulasekaran Street / Ganapathy Nagar guideline value

The current guideline value of Kulasekaran Street / Ganapathy Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and falls under the Residential Class III Type - II land classification.

How the guideline value of Kulasekaran Street / Ganapathy Nagar has changed

The guideline value for Kulasekaran Street / Ganapathy Nagar has seen significant changes over the years. In 2002, the value was Rs 169 per sq.ft, which increased to Rs 191 per sq.ft in 2003, marking a 13% rise. The value further rose to Rs 260 per sq.ft in 2007, reflecting a 36% increase from the previous revision. The 2012 revision does not have a figure for this street. By 2017, the guideline value had jumped to Rs 1,072 per sq.ft, a substantial 312% increase from 2007. In 2023, it was revised to Rs 1,600 per sq.ft, which was a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 1,760 per sq.ft, showing a 10% rise from 2023.

Overall, the guideline value has increased by 941% from 2002 to 2024. This reflects the evolving real estate landscape in the area, with the current value being a significant leap from the earlier figures.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in Pammal is Rs 2,090 per sq.ft, which indicates that Kulasekaran Street / Ganapathy Nagar's 2024 figure is below the median.

• Kulandaigal Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Kulothungan Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Kumaran Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Kumaraswamy Street / Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)
• Krishnasamy Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)
• Krishnan Street, Nehru Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kulasekaran Street / Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total cost for these fees Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kulasekaran Street / Ganapathy Nagar?

The Sub Registrar Office that covers Kulasekaran Street / Ganapathy Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a critical role during the registration of property transactions in Pammal. It is the benchmark used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value for Kulasekaran Street / Ganapathy Nagar?

The current guideline value for Kulasekaran Street / Ganapathy Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 169 per sq.ft to Rs 1,760 per sq.ft in 2024, marking a total increase of 941% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles property registrations for Kulasekaran Street / Ganapathy Nagar?

The Pammal Sub Registrar Office handles property registrations for Kulasekaran Street / Ganapathy Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, indicating that Kulasekaran Street / Ganapathy Nagar's value is below this median.