Guideline Value for Gurubucks Street

Gurubucks Street guideline value

The current guideline value of Gurubucks Street in Parangimalai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Gurubucks Street has changed

The guideline value for Gurubucks Street has undergone several revisions over the years. In 2002, the value was Rs 245 per sq.ft, which increased to Rs 320 per sq.ft in 2003, marking a 31% rise. The value then saw a significant jump to Rs 750 per sq.ft in 2007, reflecting a 134% increase. Following this, the value rose to Rs 2,500 per sq.ft in 2012, a notable increase of 233%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, showing a decline of 33%. The guideline value then increased to Rs 2,500 per sq.ft in 2023, followed by a rise to the current value of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the years between these revisions for Gurubucks Street. Overall, from 2002 to 2024, the guideline value has increased by 1022%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. Gurubucks Street's current guideline value is below this median.

• Guindy Industrial Estate: Rs 8,250 per sq.ft (2024)
• G.S.T. Road: Rs 11,000 per sq.ft (2024)
• Hill Side: Rs 3,300 per sq.ft (2024)
• Hospital Road: Rs 3,850 per sq.ft (2024)
• IA Quarters: Rs 3,850 per sq.ft (2024)
• Ibrahim Lane: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Gurubucks Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Gurubucks Street?

The Sub Registrar Office that covers Gurubucks Street 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 Parangimalai

The guideline value is a critical factor when registering property in Parangimalai. It serves as the basis for calculating the stamp duty and registration fees that are required during the transaction process. Buyers and sellers must consider this value to ensure compliance with the local regulations.

When a property is sold, the guideline value is used to determine the official valuation for registration purposes. This ensures that the transaction is recorded accurately in accordance with the prevailing rates set by the Registration Department.

Frequently asked questions

What is the current guideline value of Gurubucks Street?

The current guideline value of Gurubucks Street 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 changed from Rs 245 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1022% over the years.

What is the classification of Gurubucks Street?

Gurubucks Street is classified as Residential Class III Type - I under the Chennai South Joint II SRO.

What are the stamp duty and registration fees for property in Gurubucks Street?

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

Where is the Sub Registrar Office for Gurubucks Street located?

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