Guideline Value for GURUSAMY STREET (WARD-21)

Gurusamy Street (Ward-21) guideline value

The current guideline value of Gurusamy Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gurusamy Street (Ward-21) has changed

The guideline value for Gurusamy Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 600 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 402 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 600 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Gurusamy Street in the revisions from 2002, 2003, and 2007. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value per sq.ft.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft as of the 2024 revision. The median guideline value in this area is Rs 770 per sq.ft, placing Gurusamy Street's current value below that median.

• Handicaped Street (Ward-21): Rs 660 per sq.ft (2024)
• G.S.T.Road (Ward -1): Rs 2,200 per sq.ft (2024)
• G.S.T Road Thailavaram (Ward-21): Rs 2,200 per sq.ft (2024)
• Gst Road Potheri (Ward-20): Rs 2,200 per sq.ft (2024)
• G.S.T. Road Chamundeeswari (Ward-21): Rs 2,200 per sq.ft (2024)
• Gopula Krishna Nagar (Tai): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the 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 Gurusamy Street (Ward-21)?

The Sub Registrar Office that covers Gurusamy Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Potheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair price, reflecting the current value of the property in the market. This process helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gurusamy Street (Ward-21)?

The current guideline value of Gurusamy Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 660 per sq.ft in 2024, with notable fluctuations in between, including a decrease to Rs 402 per sq.ft in 2017 before rising again.

What is the median guideline value in Potheri?

The median guideline value in Potheri is Rs 770 per sq.ft, which is higher than the current value of Gurusamy Street.

What fees are associated with buying property in Gurusamy Street?

When buying property in Gurusamy Street, you will need to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Gurusamy Street?

The Sub Registrar Office for Gurusamy Street is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II registration zone.