Guideline Value for GOWRI STREET EAST

Gowri Street East guideline value

The current guideline value of Gowri Street East 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, and falls under the Residential Class IV Type - III land classification.

How the guideline value of Gowri Street East has changed

The guideline value for Gowri Street East has seen several revisions over the years. The earliest available figure is from 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. In 2023, the value increased to Rs 1,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,100 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The guideline register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are a total of 287 streets under the Chennai South Joint I SRO that have 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, indicating that Gowri Street East's current value is below this median.

• Gowri Street 4th Cross Street: Rs 1,100 per sq.ft (2024)
• Gowri Street West: Rs 1,100 per sq.ft (2024)
• Gowri Street 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• Gowri Street 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Gowri Street 1st Cross Street: 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 East

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, and the registration fee at 2% would be Rs 22,000, leading to a total of 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gowri Street East?

The Gowri Street East falls under 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

When buying or selling property in Vanagaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used as a benchmark to assess the value of the property for taxation purposes, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Gowri Street East?

The current guideline value of Gowri Street East 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 back 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 East?

Gowri Street East is classified under Residential Class IV Type - III land classification.

Where can I find the registration office for Gowri Street East?

The registration office for Gowri Street East 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 East?

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