Guideline Value for GURUPURAM

Gurupuram guideline value

The current guideline value of Gurupuram is Rs 8,800 per sq.ft, effective from 1 July 2024. Gurupuram is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Gurupuram has changed

The guideline value for Gurupuram has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 903 per sq.ft. This increased to Rs 1,003 per sq.ft in 2003, marking an increase of 11%. In 2007, the value rose significantly to Rs 1,540 per sq.ft, reflecting a 54% increase. The next revision in 2012 saw the value remain at Rs 8,000 per sq.ft, with no change from the previous revision. In 2023, the value was again Rs 8,000 per sq.ft, and in 2024, it increased to Rs 8,800 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 875%. It is important to note that there is no figure available for the 2017 revision for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which is equal to the current guideline value of Gurupuram.

• Gururaja Puram: Rs 8,800 per sq.ft (2024)
• Gurukal Colony: Rs 3,300 per sq.ft (2024)
• Greenways Road(P.S. Kumaraswamy Salai: Rs 17,600 per sq.ft (2024)
• Greenways Road Extension: Rs 17,600 per sq.ft (2024)
• Greenways Lane: Rs 17,600 per sq.ft (2024)
• Gowdia Madam Salai: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gurupuram

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees together to Rs 7,92,000. It is important to 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 Gurupuram?

The Sub Registrar Office that covers Gurupuram is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It determines the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

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

Frequently asked questions

What is the current guideline value of Gurupuram?

The current guideline value of Gurupuram is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Gurupuram has increased from Rs 903 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, representing a total increase of 875% over the years.

What are the stamp duty and registration fees for property in Gurupuram?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers Gurupuram?

The Mylapore Sub Registrar Office covers Gurupuram, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification of Gurupuram?

Gurupuram is classified as Residential Class III Type - III, indicating its designation for residential purposes within the Mylapore SRO.