Guideline Value for Gurumoorthi Nagar

Gurumoorthi Nagar guideline value

The current guideline value of Gurumoorthi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Pattravakkam village under the Konnur SRO, classified as Residential Class III Type - I.

How the guideline value of Gurumoorthi Nagar has changed

The guideline value for Gurumoorthi Nagar has undergone several revisions over the years. The earliest available figure is from 2007, when it was Rs 300 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, but then decreased to Rs 536 per sq.ft in 2017. Following this, the value rose sharply to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. The register has no figure for the years 2002 and 2003 for this street.

In terms of percentage changes, the guideline value increased by 167% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then saw a substantial rise of 87% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Pattravakkam

In Pattravakkam, there are 34 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,900 per sq.ft, with a median value of Rs 1,500 per sq.ft. Gurumoorthi Nagar's 2024 figure is below this median.

• Govindharajan Street: Rs 1,100 per sq.ft (2024)
• GoodWill Street: Rs 1,500 per sq.ft (2024)
• Gnanamoorthi Street: Rs 2,200 per sq.ft (2024)
• Ganamoorthi Nagar Extension & Streets & Lanes: Rs 2,200 per sq.ft (2024)
• Kabaleeswarar Nagar: Rs 1,100 per sq.ft (2024)
• D.T.P. Colony & Streets: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gurumoorthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gurumoorthi Nagar?

The Sub Registrar Office that covers Gurumoorthi Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pattravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Gurumoorthi Nagar?

The current guideline value of Gurumoorthi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What is the land classification for Gurumoorthi Nagar?

Gurumoorthi Nagar is classified as Residential Class III Type - I.

Which office handles registrations for Gurumoorthi Nagar?

The Konnur Sub Registrar Office handles registrations for Gurumoorthi Nagar, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated in Gurumoorthi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.