Guideline Value for GURUSUBRAMANIAM AVENUE

Gurusubramaniam Avenue guideline value

The current guideline value of Gurusubramaniam Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Gurusubramaniam Avenue has changed

The guideline value for Gurusubramaniam Avenue has seen several revisions over the years. Starting from Rs 245 per sq.ft in 2002, it increased to Rs 304 per sq.ft in 2003, marking a 24% increase. The value then rose significantly to Rs 900 per sq.ft in 2007, reflecting a 196% change. In 2012, it was recorded at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision. The value remained the same in 2023 at Rs 2,500 per sq.ft, as there is no figure for this street in the 2012 revision.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, and in the latest revision for 2024, it has increased to Rs 2,750 per sq.ft, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,022%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, positioning Gurusubramaniam Avenue's 2024 figure below that median.

• Hariharan Street: Rs 3,100 per sq.ft (2024)
• G.S. Nagar: Rs 3,100 per sq.ft (2024)
• G.R.Nagar Ist Street: Rs 3,100 per sq.ft (2024)
• G.R.Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• G.R. Nagar: Rs 4,400 per sq.ft (2024)
• Hari Shankar Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusubramaniam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 Gurusubramaniam Avenue?

The Sub Registrar Office that covers Gurusubramaniam Avenue is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When engaging in property transactions, it is essential to refer to the guideline value to ensure compliance with local regulations. This value is updated periodically, reflecting changes in the real estate landscape, and it is advisable to check the latest figures before proceeding with any transactions.

Frequently asked questions

What is the current guideline value of Gurusubramaniam Avenue?

The current guideline value of Gurusubramaniam Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 245 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,022% over this period.

What is the median guideline value for streets in Ramapuram?

The median guideline value for streets in Ramapuram is Rs 3,100 per sq.ft, while Gurusubramaniam Avenue's 2024 figure is below this median.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000, resulting in a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000, totaling Rs 2,47,500.

Where can I find the Sub Registrar Office for Gurusubramaniam Avenue?

The Sub Registrar Office for Gurusubramaniam Avenue is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.