Guideline Value for Sri Ganapathi Avenue

Sri Ganapathi Avenue guideline value

The current guideline value of Sri Ganapathi Avenue is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Karanodai village, under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sri Ganapathi Avenue has changed

The guideline value for Sri Ganapathi Avenue has undergone several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, it decreased to Rs 268 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 400 per sq.ft, and the most recent revision in 2024 has set the value at Rs 440 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Karanodai

In Karanodai, there are 38 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,210 per sq.ft, making the 2024 figure for Sri Ganapathi Avenue below this median.

• Sri Krishna Nagar Annex-III: Rs 440 per sq.ft (2024)
• Sothuperumpedu Road: Rs 1,650 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,210 per sq.ft (2024)
• Sivan Koil Street: Rs 1,650 per sq.ft (2024)
• Shanmuga Nagar: Rs 1,210 per sq.ft (2024)
• Senthil Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganapathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ganapathi Avenue?

The Sub Registrar Office that covers Sri Ganapathi Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Karanodai. It serves as the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. Buyers should be aware of the guideline value to understand the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Sri Ganapathi Avenue?

The current guideline value of Sri Ganapathi Avenue is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the land classification for Sri Ganapathi Avenue?

Sri Ganapathi Avenue is classified as Residential Class III Type - I, indicating its designated use for residential purposes.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Sri Ganapathi Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at a rate of 7%.