Guideline Value

Corporate

Guideline Value for GOWSLYA NAGAR

₹2750/sq.ft.

The guideline value for Gowslya Nagar in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹900 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Gowslya Nagar

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Gowslya Nagar guideline value

The current guideline value of Gowslya Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This locality is part of Medavakkam village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Gowslya Nagar has changed

The guideline value for Gowslya Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 900 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 178%. However, it saw a decrease of 33% to Rs 1,675 per sq.ft by 2017. The value then rose sharply to Rs 2,500 per sq.ft in 2023, followed by another increase of 10%, bringing it to the current rate of Rs 2,750 per sq.ft in 2024.

There are no figures available for Gowslya Nagar in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO with a guideline value for 2024 ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making Gowslya Nagar's 2024 figure of Rs 2,750 per sq.ft above the median.

Stamp duty and registration fee for property in Gowslya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gowslya Nagar?

The Gowslya Nagar area is covered by 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 Medavakkam

When buying or selling property in Medavakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, ensuring that the transaction is recorded at a fair value.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the state receives appropriate revenue from property transactions, and it is essential for buyers and sellers to be aware of these values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Gowslya Nagar?

The current guideline value of Gowslya Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the median guideline value in Medavakkam?

The median guideline value in Medavakkam for 2024 is Rs 2,200 per sq.ft, with Gowslya Nagar's value being above this median.

What are the stamp duty rates for property in Gowslya Nagar?

The stamp duty rate for property in Gowslya Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Gowslya Nagar?

The registration for Gowslya Nagar is handled by 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.