Guideline Value for GURURAJA PURAM

Gururaja Puram guideline value

The current guideline value of Gururaja Puram is Rs 8,800 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village and falls under the Mylapore SRO. The land classification for this street is Residential Class III Type - III.

How the guideline value of Gururaja Puram has changed

The guideline value for Gururaja Puram has seen significant changes over the years. In the 2002 revision, the value was Rs 1,155 per sq.ft, which increased to Rs 1,283 per sq.ft in 2003, marking an 11% rise. The value continued to grow, reaching Rs 1,540 per sq.ft in 2007, a 20% increase from the previous revision. However, from 2007 to 2012, the value decreased to Rs 8,000 per sq.ft, a decline of 33%. The 2017 revision saw a substantial increase to Rs 5,360 per sq.ft, a 49% rise from 2012. The value further increased to Rs 8,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 8,800 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for Gururaja Puram in the revisions of 2012, 2017, and 2023. Overall, from 2002 to 2024, the guideline value has increased by 662%.

Guideline values in Mylapore

Mylapore village comprises 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is equal to the current value for Gururaja Puram.

• Gurupuram: 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 Gururaja Puram

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, totaling Rs 7,92,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gururaja Puram?

The Sub Registrar Office that covers Gururaja Puram 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 for property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value influences the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Gururaja Puram?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,155 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking a total increase of 662% over the years.

What are the stamp duty rates for properties in Gururaja Puram?

The stamp duty for properties in Gururaja Puram is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Mylapore Sub Registrar Office?

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

What other streets have guideline values in Mylapore?

Other streets in Mylapore include Gurupuram at Rs 8,800 per sq.ft, Gurukal Colony at Rs 3,300 per sq.ft, Greenways Road at Rs 17,600 per sq.ft, Greenways Road Extension at Rs 17,600 per sq.ft, Greenways Lane at Rs 17,600 per sq.ft, and Gowdia Madam Salai at Rs 13,200 per sq.ft.