Guideline Value for GOWRI STREET WEST

Gowri Street West guideline value

The current guideline value of Gowri Street West 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 is classified as Residential Class IV Type - III.

How the guideline value of Gowri Street West has changed

The guideline value for Gowri Street West has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, which is a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Gowri Street West in the years 2002, 2003, and 2007.

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, with a median value of Rs 1,660 per sq.ft. The guideline value for Gowri Street West is below this median.

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

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, while the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gowri Street West?

The Sub Registrar Office that covers Gowri Street West 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 determining the stamp duty and registration fees applicable during the registration process. Buyers must ensure that the property is registered at or above the guideline value to comply with legal requirements.

When a property is sold, the guideline value helps in calculating the financial obligations associated with the transaction. This ensures that both parties are aware of the costs involved and can proceed with the transaction smoothly.

Frequently asked questions

What is the current guideline value of Gowri Street West?

The current guideline value of Gowri Street West 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 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 are the stamp duty and registration fees for properties in Gowri Street West?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000. The stamp duty is Rs 77,000 and the registration fee is Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Gowri Street West?

The Chennai South Joint I Sub Registrar Office covers Gowri Street West, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Gowri Street West?

Gowri Street West is classified as Residential Class IV Type - III, which indicates its designation for residential use within the local planning framework.