Guideline Value for Gurunathar Nagar

Gurunathar Nagar guideline value

The current guideline value of Gurunathar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Gurunathar Nagar has changed

The guideline value for Gurunathar Nagar has seen several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 456% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and now stands at Rs 2,700 per sq.ft as of the 2024 revision, reflecting an 8% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Gurunathar Nagar's 2024 figure above that median.

• Heritage Jayendrar Nagar: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 10th Cross Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 10th Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 11th Cross Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 11th Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 12th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gurunathar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total charges to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gurunathar Nagar?

The Sub Registrar Office that covers Gurunathar Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property, ensuring that these fees are calculated based on the established value of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Gurunathar Nagar?

The current guideline value of Gurunathar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 450 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 500%.

What are the other streets in Chembakkam with similar guideline values?

Other streets in Chembakkam that have a guideline value of Rs 2,700 per sq.ft in 2024 include Heritage Jayendrar Nagar and several streets in the Heritage Jeyandrar Nagar area.

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

The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Where can I find the Sub Registrar Office for Gurunathar Nagar?

The Sub Registrar Office for Gurunathar Nagar is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more information online.