Guideline Value for GOWRI STREET 4TH CROSS STREET

Gowri Street 4th Cross Street guideline value

The current guideline value of Gowri Street 4th Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village, under the Chennai South Joint I SRO, with a land classification of Residential Class IV Type - III.

How the guideline value of Gowri Street 4th Cross Street has changed

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure remained until the 2017 revision, where it dropped to Rs 670 per sq.ft, reflecting a decrease of 33%. The value increased significantly in the subsequent revisions, reaching Rs 1,000 per sq.ft in 2023 and then rising to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from the 2012 revision to the current 2024 value, there has been a total increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register 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 value for these streets is Rs 1,660 per sq.ft, indicating that the guideline value of Gowri Street 4th Cross Street is below this median.

• Gowri Street 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Gowri Street 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Gowri Street 3rd 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 4th 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 amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gowri Street 4th Cross Street?

The Sub Registrar Office that covers Gowri Street 4th 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 plays a crucial role in the registration process when buying or selling property in Vanagaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the established values for properties in the area.

When a property is sold, the guideline value is used to determine the applicable fees, which are charged on the higher of the guideline value or the actual sale price. This ensures that the registration process is transparent and adheres to the values set by the Registration Department.

Frequently asked questions

What is the current guideline value of Gowri Street 4th Cross Street?

The current guideline value of Gowri Street 4th Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, starting at Rs 1,000 per sq.ft in 2012, dropping to Rs 670 per sq.ft in 2017, and then increasing to Rs 1,000 per sq.ft in 2023 before reaching Rs 1,100 per sq.ft in 2024.

What is the median guideline value for streets in Vanagaram?

The median guideline value for streets in Vanagaram is Rs 1,660 per sq.ft, indicating that Gowri Street 4th Cross Street's value is below this median.

What fees are associated with buying property in Gowri Street 4th Cross Street?

When buying property, the stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Gowri Street 4th Cross Street?

The Sub Registrar Office for Gowri Street 4th 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.