Guideline Value for Gurumoorthy Nagar

Gurumoorthy Nagar guideline value

The current guideline value of Gurumoorthy Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Sembiam village, under the Sembiam Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Gurumoorthy Nagar has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 283 per sq.ft, which increased to Rs 307 per sq.ft in 2003. Following this, the value rose to Rs 700 per sq.ft in 2007, and then to Rs 1,800 per sq.ft in 2012. However, it decreased to Rs 1,206 per sq.ft in 2017. The value then increased to Rs 1,800 per sq.ft in 2023, and finally, it is now Rs 1,900 per sq.ft in 2024. The overall increase from 2002 to 2024 is 571%.

Examining the changes between revisions, the increase from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%. The value saw a substantial increase of 157% from 2007 to 2012, and a significant rise of 128% from 2003 to 2007. The change from 2002 to 2003 was a modest 8%.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Gurumoorthy Nagar's 2024 figure is below this median.

• Gurusamy Gramani Street: Rs 1,700 per sq.ft (2024)
• Gowthamar Street: Rs 1,900 per sq.ft (2024)
• Hemavathi Street: Rs 1,900 per sq.ft (2024)
• Gopal Reddiar Colony East Main Road: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 6th Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 6th Cross Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gurumoorthy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for your convenience.

Which Sub Registrar Office covers Gurumoorthy Nagar?

The Sub Registrar Office that covers Gurumoorthy Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Sembiam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property in Gurumoorthy Nagar, it is important to note that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Gurumoorthy Nagar?

The current guideline value of Gurumoorthy Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 283 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 571% over the years.

What are the other streets in Sembiam with their guideline values?

Other streets in Sembiam include Gurusamy Gramani Street at Rs 1,700 per sq.ft, Gowthamar Street and Hemavathi Street both at Rs 1,900 per sq.ft, and several streets in Gopal Reddiar Colony at Rs 4,900 per sq.ft.

What are the stamp duty and registration fees for property in Gurumoorthy Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,71,000, calculated based on the guideline value of Rs 19,00,000.

Which office handles the registration for Gurumoorthy Nagar?

The Sembiam Sub Registrar Office handles the registration for Gurumoorthy Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.