Guideline Value for Gurupatham Nagar

Gurupatham Nagar guideline value

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

How the guideline value of Gurupatham Nagar has changed

The guideline value for Gurupatham Nagar has seen several revisions over the years. In 2007, the value was Rs 120 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, this figure dropped to Rs 670 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the latest revision in 2024 has set it at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 817%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Gurupatham Nagar's 2024 guideline value below this median.

• Guru Ganesh Avenue Phase -III: Rs 3,700 per sq.ft (2024)
• Guru Ganesh Avenue Phase -II: Rs 2,750 per sq.ft (2024)
• GR Nagar Extn 1 to 6: Rs 1,650 per sq.ft (2024)
• G.R.Nagar: Rs 1,650 per sq.ft (2024)
• Hidhyath Nagar: Rs 1,650 per sq.ft (2024)
• Hill Road Avenue: Rs 1,100 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 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, bringing the total fees to 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 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Varadarajapuram. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to compute the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gurupatham Nagar?

The current guideline value of Gurupatham 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 120 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 817% over the years.

What is the median guideline value in Varadarajapuram?

The median guideline value in Varadarajapuram is Rs 1,650 per sq.ft, with Gurupatham Nagar's value being below this median.

What fees are involved when registering property in Gurupatham Nagar?

The fees involved include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Gurupatham Nagar located?

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