Guideline Value for Maha Ganapathy Street

Maha Ganapathy Street guideline value

The current guideline value of Maha Ganapathy Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Maha Ganapathy Street has changed

Over the years, the guideline value of Maha Ganapathy Street has seen several revisions. The most recent revision in 2024 set the value at Rs 1,400 per sq.ft, an increase from Rs 1,300 per sq.ft in 2023, marking an 8% rise. Prior to that, in 2017, the value was Rs 871 per sq.ft, which means there was a significant increase of 49% to reach the 2023 figure. The register has no figures for the revisions in 2002, 2003, and 2007.

Looking further back, the 2012 revision also set the value at Rs 1,300 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the guideline value of Maha Ganapathy Street below the median.

• Maha Sakthi Colony: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 1st Main Road Extn: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 1st Street: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 2nd Main Road Extn: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Maha Ganapathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, while the registration fee at 2% would be Rs 28,000, leading to a total of Rs 1,26,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Maha Ganapathy Street?

The Maha Ganapathy Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor when buying or selling property in Chembakkam. It serves as a benchmark for the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during transactions.

When registering a property, the guideline value is used to calculate applicable fees, including stamp duty and registration fees. It is crucial for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Maha Ganapathy Street?

The current guideline value of Maha Ganapathy Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 871 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2023, and then to Rs 1,400 per sq.ft in 2024. This reflects a significant increase over the years.

What is the land classification for Maha Ganapathy Street?

Maha Ganapathy Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Maha Ganapathy Street?

Stamp duty is calculated based on the higher of the guideline value and the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 98,000 at 7%.