Guideline Value for GURU MOORTHY SEIK MANYAM

Guru Moorthy Seik Manyam guideline value

The current guideline value of Guru Moorthy Seik Manyam is Rs 1,100 per sq.ft, effective from 1 July 2024. This property 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 Guru Moorthy Seik Manyam has changed

The guideline value for Guru Moorthy Seik Manyam has undergone several revisions over the years. In 2002, the value was Rs 75 per sq.ft, which increased to Rs 87 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 500 per sq.ft in 2007, and then it doubled to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, before reaching the current value of Rs 1,100 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 16% from 2002 to 2003, followed by a remarkable 475% rise from 2003 to 2007. The value then increased by 100% from 2007 to 2012, but saw a decrease of 33% from 2012 to 2017. There was a significant increase of 49% from 2017 to 2023, and finally, a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1367%.

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, placing the guideline value of Guru Moorthy Seik Manyam below that median.

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

Stamp duty and registration fee for property in Guru Moorthy Seik Manyam

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the 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, totaling Rs 99,000. 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 Guru Moorthy Seik Manyam?

The Guru Moorthy Seik Manyam 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 further assistance.

How the guideline value is used when you buy or sell in Vanagaram

The guideline value is a crucial factor during the registration of property transactions in Vanagaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is bought or sold, the guideline value serves as a baseline for calculating these fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, ensuring that the correct amount is paid to the authorities.

Frequently asked questions

What is the current guideline value of Guru Moorthy Seik Manyam?

The current guideline value of Guru Moorthy Seik Manyam 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 significantly, starting from Rs 75 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1367% over the years.

What is the land classification for Guru Moorthy Seik Manyam?

Guru Moorthy Seik Manyam is classified as Residential Class IV Type - III.

Where can I find the registration office for Guru Moorthy Seik Manyam?

The registration office for Guru Moorthy Seik Manyam 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 Guru Moorthy Seik Manyam?

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