Guideline Value for Gurusamy Gramani Street

Gurusamy Gramani Street guideline value

The current guideline value of Gurusamy Gramani Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Gurusamy Gramani Street has changed

The guideline value for Gurusamy Gramani Street has undergone several revisions since 2002. In 2002, the guideline value was Rs 378 per sq.ft. This increased to Rs 410 per sq.ft in 2003, reflecting an 8% rise. The value then saw a significant increase of 95% to reach Rs 800 per sq.ft in 2007. By 2012, the value remained unchanged at Rs 1,600 per sq.ft.

In 2017, the guideline value was revised to Rs 1,072 per sq.ft, a decrease of 33%. This was followed by a notable increase of 49% in 2023, bringing the value to Rs 1,600 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,700 per sq.ft, marking a 6% increase from the previous year.

Guideline values in Sembiam

In Sembiam, 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. Gurusamy Gramani Street's 2024 figure is below this median.

• Gurumoorthy Nagar: Rs 1,900 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 Gurusamy Gramani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 Gurusamy Gramani Street?

The Sub Registrar Office that covers Gurusamy Gramani Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a critical role in the registration process of property transactions in Sembiam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives its due revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Gurusamy Gramani Street?

The current guideline value of Gurusamy Gramani Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 378 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 350% since 2002.

What is the land classification for Gurusamy Gramani Street?

Gurusamy Gramani Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Gurusamy Gramani Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Sub Registrar Office for Gurusamy Gramani Street located?

The Sub Registrar Office for Gurusamy Gramani Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.