Guideline Value for Gurukkal Street

Gurukkal Street guideline value

The current guideline value of Gurukkal Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Manimangalam A village and falls under the Padappai SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Gurukkal Street has changed

The guideline value for Gurukkal Street has seen several revisions over the years. The 2017 revision set the value at Rs 536 per sq.ft. This increased significantly to Rs 800 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,500 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the current guideline value of Gurukkal Street.

• Hanif Nagar: Rs 770 per sq.ft (2024)
• Green City: Rs 1,430 per sq.ft (2024)
• Hasim Garden: Rs 880 per sq.ft (2024)
• Indhumathi Nagar: Rs 1,430 per sq.ft (2024)
• Ganga Nagar: Rs 880 per sq.ft (2024)
• Ganesh Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Gurukkal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. Please 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 details.

Which Sub Registrar Office covers Gurukkal Street?

The Sub Registrar Office that covers Gurukkal Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Manimangalam A. It is used to determine the stamp duty and registration fees that need to be paid when registering a property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is typically considered in the transaction. It helps in establishing a baseline for the property's worth, ensuring that both parties have a clear understanding of the financial obligations involved in the sale.

Frequently asked questions

What is the current guideline value of Gurukkal Street?

The current guideline value of Gurukkal Street is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, marking an overall increase of 64% over these years.

What are the stamp duty rates for properties in Gurukkal Street?

The stamp duty rate for properties in Gurukkal Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Gurukkal Street?

The Sub Registrar Office for Gurukkal Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value in Manimangalam A?

The median guideline value in Manimangalam A is Rs 880 per sq.ft, which is the same as the current guideline value for Gurukkal Street.