Guideline Value for GOWRI STREET 2ND CROSS STREET

Gowri Street 2nd Cross Street guideline value

The current guideline value of Gowri Street 2nd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Gowri Street 2nd Cross Street has changed

The guideline value for Gowri Street 2nd Cross Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,000 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 670 per sq.ft. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and then again to Rs 1,100 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The value then rose by 10% from 2023 to 2024. Overall, comparing the figures from 2012 to 2024, there has been a slight increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 1,660 per sq.ft, placing Gowri Street 2nd Cross Street's 2024 figure below this median.

• Gowri Street 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Gowri Street 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• Gowri Street 4th Cross Street: Rs 1,100 per sq.ft (2024)
• Gowri Street East: Rs 1,100 per sq.ft (2024)
• Gowri Street West: Rs 1,100 per sq.ft (2024)
• Guru Moorthy Seik Manyam: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gowri Street 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gowri Street 2nd Cross Street?

The Sub Registrar Office that covers Gowri Street 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vanagaram. It serves as a benchmark for the minimum price at which a property can be registered. This ensures that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Gowri Street 2nd Cross Street?

The current guideline value of Gowri Street 2nd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Gowri Street 2nd Cross Street?

The land classification for Gowri Street 2nd Cross Street is Residential Class IV Type - III.

Where can I find the Sub Registrar Office for Gowri Street 2nd Cross Street?

The Sub Registrar Office for Gowri Street 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Gowri Street 2nd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.