Guideline Value for GUBERALAKSHMI NAGAR

Guberalakshmi Nagar guideline value

The current guideline value of Guberalakshmi Nagar is Rs 1,480 per sq.ft, effective from 1 July 2024. This area is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class III Type - II.

How the guideline value of Guberalakshmi Nagar has changed

The guideline value for Guberalakshmi Nagar has undergone several revisions over the years. The 2017 revision recorded a value of Rs 1,340 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,480 per sq.ft, reflecting a 10% rise from the previous year.

Prior to the 2017 revision, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 10%.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,600 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Guberalakshmi Nagar is below this median.

• Gangai Street: Rs 1,650 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,320 per sq.ft (2024)
• Janakiram Nagar: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• E.V.P. Prabhu Nagar: Rs 1,320 per sq.ft (2024)
• E.V.P. Prabhu Avenue Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Guberalakshmi Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 14,80,000. The stamp duty at 7% amounts to Rs 1,03,600, and the registration fee at 2% is Rs 29,600, totaling Rs 1,33,200. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Guberalakshmi Nagar?

The Sub Registrar Office covering Guberalakshmi Nagar 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 Kolathuvancheri

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathuvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Guberalakshmi Nagar?

The current guideline value of Guberalakshmi Nagar is Rs 1,480 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 1,480 per sq.ft in 2024. There was no change in the value during the 2023 revision.

What is the land classification for Guberalakshmi Nagar?

The land classification for Guberalakshmi Nagar is Residential Class III Type - II.

Where is the Sub Registrar Office for Guberalakshmi Nagar located?

The Sub Registrar Office for Guberalakshmi Nagar is 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 Guberalakshmi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees can amount to Rs 1,33,200.