Guideline Value for Gurupatham Nagar

Gurupatham Nagar guideline value

The current guideline value of Gurupatham Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Naduveerapattu village, under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Gurupatham Nagar has changed

Over the years, the guideline value for Gurupatham Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, and currently stands at Rs 550 per sq.ft as per the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Naduveerapattu

Naduveerapattu village has 96 streets listed under the Padappai SRO, with guideline values ranging from Rs 330 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, which means Gurupatham Nagar's 2024 figure is below this median.

• Green Paradise Phase - II: Rs 660 per sq.ft (2024)
• Green Paradise Part I and II: Rs 660 per sq.ft (2024)
• Green Paradise: Rs 660 per sq.ft (2024)
• Gramani Street: Rs 660 per sq.ft (2024)
• Indigo Nagar: Rs 1,320 per sq.ft (2024)
• Indira Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gurupatham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which totals Rs 38,500, and the registration fee at 2%, which amounts to Rs 11,000. Therefore, the combined fees would be Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gurupatham Nagar?

The Sub Registrar Office that covers Gurupatham Nagar 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 further assistance.

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

The guideline value plays a crucial role in property transactions in Naduveerapattu. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring a standardized approach to property valuation.

When selling a property, the guideline value provides a benchmark for both buyers and sellers. It helps in setting realistic expectations regarding the property's worth and facilitates a smoother transaction process by adhering to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Gurupatham Nagar?

The current guideline value of Gurupatham Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and currently stands at Rs 550 per sq.ft in 2024.

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

For a 1,000 sq.ft plot valued at Rs 5,50,000, the stamp duty is Rs 38,500 and the registration fee is Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Gurupatham Nagar?

The Padappai Sub Registrar Office covers Gurupatham Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value for streets in Naduveerapattu?

The median guideline value for streets in Naduveerapattu is Rs 660 per sq.ft, which is above the current value of Gurupatham Nagar.