Guideline Value for Gurunathan Street

Gurunathan Street guideline value

The current guideline value of Gurunathan Street in Nanganallur village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Gurunathan Street has changed

The guideline value for Gurunathan Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 319 per sq.ft. This increased to Rs 363 per sq.ft in 2003, marking a change of +14%. The subsequent revisions show a significant rise, with the value jumping to Rs 1,200 per sq.ft in 2007, representing a remarkable increase of +231%. In 2012, the value was Rs 2,500 per sq.ft, which was a decrease of -33% from the previous revision. The 2017 revision saw a further increase to Rs 1,675 per sq.ft, reflecting a +49% change. The guideline value was revised to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,800 per sq.ft in 2024, which is a +12% increase.

There are no figures available for revisions in years not listed. Overall, from 2002 to 2024, the guideline value has increased by +778%.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft as of 2024. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Gurunathan Street's 2024 figure below that median.

• Govindasamy Street: Rs 5,000 per sq.ft (2024)
• Jain College: Rs 4,400 per sq.ft (2024)
• Gandhi Street: Rs 4,400 per sq.ft (2024)
• Gandhi Road Lane: Rs 4,400 per sq.ft (2024)
• Jayaram Naidu Street (Jayaram Street): Rs 2,800 per sq.ft (2024)
• Ganapathi Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gurunathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to 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 Gurunathan Street?

The Sub Registrar Office that covers Gurunathan Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanganallur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements.

When a property is sold, the guideline value is compared with the sale price. The stamp duty is charged based on the higher of the two values, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gurunathan Street?

The current guideline value of Gurunathan Street is Rs 2,800 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 319 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +778% over the years.

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

Other streets in Nanganallur have varying guideline values, with Govindasamy Street at Rs 5,000 per sq.ft and Jayaram Naidu Street at Rs 2,800 per sq.ft, among others.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles the registration for Gurunathan Street?

The Alandur Sub Registrar Office handles the registration for Gurunathan Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.