Guideline Value for Guru Ramesh Nagar

Guru Ramesh Nagar guideline value

The current guideline value of Guru Ramesh Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Kavanur village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Guru Ramesh Nagar has changed

Over the years, the guideline value for Guru Ramesh Nagar has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2023 revision, which also recorded Rs 700 per sq.ft. The 2017 revision had a lower value of Rs 469 per sq.ft, marking a decrease of 33% from the 2012 figure. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 700 per sq.ft. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 700 per sq.ft.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 500 to Rs 2,239 per sq.ft. The median value for these streets is Rs 800 per sq.ft, indicating that the guideline value for Guru Ramesh Nagar is below this median.

• Gunguni Amman Kovil Theru: Rs 600 per sq.ft (2024)
• Green Garden-I,II,III,IV: Rs 800 per sq.ft (2024)
• Green Garden: Rs 800 per sq.ft (2024)
• G.P Avenue: Rs 800 per sq.ft (2024)
• Gopalsamy Nagar: Rs 800 per sq.ft (2024)
• Indhira Gandhi Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Guru Ramesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Guru Ramesh Nagar?

The Sub Registrar Office that covers Guru Ramesh Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kavanur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When you register a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is important for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Guru Ramesh Nagar?

The current guideline value of Guru Ramesh Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since 2012, with a notable increase of 49% from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023.

What are the guideline values of other streets in Kavanur?

Other streets in Kavanur have guideline values ranging from Rs 500 to Rs 2,239 per sq.ft, with the median being Rs 800 per sq.ft. Guru Ramesh Nagar's value is below this median.

What are the stamp duty and registration fees for a property in Guru Ramesh Nagar?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000, and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which Sub Registrar Office covers Guru Ramesh Nagar?

The Gooduvancheri Sub Registrar Office covers Guru Ramesh Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.