Guideline Value for GURURAGAVENDHIRA NAGAR

Gururagavendhira Nagar guideline value

The current guideline value of Gururagavendhira Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This locality is situated in Minjur village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Gururagavendhira Nagar has changed

The guideline value for Gururagavendhira Nagar has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision at Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur village, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the 2024 figure for Gururagavendhira Nagar.

• Guru Street: Rs 1,320 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 Gururagavendhira Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. 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 Gururagavendhira Nagar?

The Sub Registrar Office that covers Gururagavendhira Nagar 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 is a critical factor in the registration process when buying or selling property in Minjur. It is used to determine the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value serves as a benchmark for calculating the taxes due. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the correct amount is paid during registration.

Frequently asked questions

What is the current guideline value of Gururagavendhira Nagar?

The current guideline value of Gururagavendhira Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the other streets in Minjur with similar guideline values?

Other streets in Minjur with a guideline value of Rs 550 per sq.ft in 2024 include Harilakshmi Nagar, Harini Avenue, and Harini Nagar. Guru Street and Hemachandira Nagar have higher values at Rs 1,320 per sq.ft.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles registrations for properties in Gururagavendhira Nagar.

How is stamp duty calculated for properties in Gururagavendhira Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a plot valued at Rs 5,50,000 would incur a stamp duty of Rs 38,500 at 7%.