Guideline Value for Gowri Nagar

Gowri Nagar guideline value

The current guideline value of Gowri Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 3,000 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

How the guideline value of Gowri Nagar has changed

The guideline value for Gowri Nagar has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,800 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 1,876 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the guideline value increased significantly to Rs 2,800 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,000 per sq.ft, a 7% increase from the previous year’s figure of Rs 2,800 per sq.ft.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street in the register. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Gowri Nagar is above this median.

• Gowri Nagar Main Road ( Ward No.24): Rs 1,300 per sq.ft (2024)
• Gowri Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Gowri Nagar,Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Govindasamy st ( Ward No.22): Rs 1,300 per sq.ft (2024)
• Govindasamy Street (Ward-23): Rs 1,300 per sq.ft (2024)
• Govindappa Naicker St (Ward-02): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gowri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total fees together to Rs 2,70,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gowri Nagar?

The Gowri Nagar area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, the guideline value ensures transparency and fairness in the valuation process. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Gowri Nagar?

The current guideline value of Gowri Nagar is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2023 to Rs 3,000 per sq.ft in 2024, a 7% increase. It was Rs 1,876 per sq.ft in 2017 and Rs 2,800 per sq.ft in 2012.

What is the land classification of Gowri Nagar?

Gowri Nagar is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the guideline values of other streets in Madhavaram?

Other streets in Madhavaram have a guideline value of Rs 1,300 per sq.ft in 2024. This includes Gowri Nagar Main Road, Gowri Nagar (Ponniamman Medu), and several streets on Govindasamy.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in Gowri Nagar and surrounding areas.