Guideline Value for GURU STREET

Guru Street guideline value

The current guideline value of Guru Street in Minjur village, under the Ponneri SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - I.

How the guideline value of Guru Street has changed

The guideline value for Guru Street has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in 2023. The latest revision in 2024 raised the value to Rs 1,320 per sq.ft, marking a 10% increase from the previous year and a significant overall increase of 64% since 2017.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting a substantial rise in the guideline value over this period.

Guideline values in Minjur

In Minjur village, there are 179 streets under the Ponneri SRO that have a guideline value for 2024, ranging from Rs 440 to Rs 1,320 per sq.ft. The median value among these streets is Rs 550 per sq.ft, indicating that Guru Street's guideline value is above this median.

• Gururagavendhira Nagar: Rs 550 per sq.ft (2024)
• Harilakshmi Nagar: Rs 550 per sq.ft (2024)
• Harini Avenue: Rs 550 per sq.ft (2024)
• Harini Nagar: Rs 550 per sq.ft (2024)
• Hemachandira Nagar: Rs 1,320 per sq.ft (2024)
• Imaja Gardens: Rs 580 per sq.ft (2024)

Stamp duty and registration fee for property in Guru Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Guru Street?

The Sub Registrar Office that covers Guru Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Minjur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are calculated based on the official valuation of the property.

When a property is sold, the guideline value is used to assess the minimum value for taxation purposes. Buyers and sellers must be aware of this value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Guru Street?

The current guideline value of Guru Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,320 per sq.ft, marking an overall increase of 64% over this period.

What is the median guideline value in Minjur?

The median guideline value for streets in Minjur is Rs 550 per sq.ft, with Guru Street's value being above this median at Rs 1,320 per sq.ft.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Guru Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 13,20,000, the stamp duty would be Rs 92,400 at 7%.