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 Thailavaram 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

Looking at the historical revisions, the guideline value for Gurusamy Street was Rs 600 per sq.ft in 2023, which increased by 10% to Rs 660 per sq.ft in 2024. Prior to that, in 2017, the value was Rs 402 per sq.ft, marking a significant increase of 49% to reach the 2023 figure. The 2012 revision also showed a value of Rs 600 per sq.ft, but this represented a decrease of 33% from the 2017 figure.

Overall, from the 2012 revision to the current 2024 figure, there has been a 10% increase. It is important to note that the guideline value register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 770 per sq.ft. Gurusamy Street's 2024 guideline value of Rs 660 per sq.ft is below this 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 881 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 rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thailavaram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal property transactions.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements. This value can impact the overall cost of the transaction, making it important for both parties to understand how it is applied during registration.

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 2023 to Rs 660 per sq.ft in 2024, representing a 10% increase. It was Rs 402 per sq.ft in 2017, which increased to Rs 600 per sq.ft in 2012, followed by a decrease of 33% to Rs 402 per sq.ft in 2017.

What is the land classification for Gurusamy Street (Ward-21)?

The land classification for Gurusamy Street (Ward-21) is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Gurusamy Street (Ward-21)?

The Sub Registrar Office covering Gurusamy Street (Ward-21) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Gurusamy Street (Ward-21)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot with a guideline value of Rs 6,60,000, the stamp duty would be Rs 46,200 at 7%.