Guideline Value for Gowri Nagar Extension

Gowri Nagar Extension guideline value

The current guideline value of Gowri Nagar Extension is Rs 2,530 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village, under the Kunrathur SRO, and is classified as Residential Special Type - III.

How the guideline value of Gowri Nagar Extension has changed

In the 2012 revision, the guideline value was Rs 2,300 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,541 per sq.ft, marking a decline of 33%. The value then increased significantly in the 2023 revision to Rs 2,300 per sq.ft, and further rose to Rs 2,530 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. From 2017 to 2023, there was a notable increase of 49%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value for Gowri Nagar Extension is below this median.

• Gowri Nagar: Rs 2,970 per sq.ft (2024)
• Guruswamy Nagar: Rs 3,520 per sq.ft (2024)
• Guruswamy Nagar Extension: Rs 3,520 per sq.ft (2024)
• Guruswamy Nagar Extension IV: Rs 3,520 per sq.ft (2024)
• H.T.L.Staff Colony: Rs 2,530 per sq.ft (2024)
• Jawaharlal Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Gowri Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gowri Nagar Extension?

The Gowri Nagar Extension area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Mogalivakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Frequently asked questions

What is the current guideline value of Gowri Nagar Extension?

The current guideline value of Gowri Nagar Extension is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 in 2012 to Rs 1,541 in 2017, then increased to Rs 2,300 in 2023, and finally to Rs 2,530 in 2024.

What is the land classification of Gowri Nagar Extension?

The land classification of Gowri Nagar Extension is Residential Special Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which office handles registrations for Gowri Nagar Extension?

The Kunrathur Sub Registrar Office handles registrations for Gowri Nagar Extension, located at No.59, Road Street, Kundrathur, Chennai -600 069.