Guideline Value for Gurusamy Nagar 10th street

Gurusamy Nagar 10th street guideline value

The current guideline value of Gurusamy Nagar 10th street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village and falls under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Gurusamy Nagar 10th street has changed

The guideline value for Gurusamy Nagar 10th street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 600 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 317%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revision in 2023 saw the value rise again to Rs 2,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,700 per sq.ft, an increase of 8% from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 350%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, indicating that the guideline value for Gurusamy Nagar 10th street is below this median.

• Gurusamy Nagar 1st street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 2nd street: Rs 2,700 per sq.ft (2024)
• Gurusamy mainRoad: Rs 3,300 per sq.ft (2024)
• Gurusamy Nagar 3rd street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 4th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 5th street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Nagar 10th street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gurusamy Nagar 10th street?

The Gurusamy Nagar 10th street is covered by the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

The guideline value is a critical component in the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gurusamy Nagar 10th street?

The current guideline value of Gurusamy Nagar 10th street 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 significantly over the years, with the 2007 revision at Rs 600 per sq.ft, increasing to Rs 2,700 per sq.ft in 2024. Notable changes include a rise of 317% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and an increase of 49% from 2017 to 2023.

What is the land classification for Gurusamy Nagar 10th street?

The land classification for Gurusamy Nagar 10th street is Residential Class IV Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Gurusamy Nagar 10th street?

The Sub Registrar Office covering Gurusamy Nagar 10th street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Gurusamy Nagar 10th street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%, along with a registration fee of Rs 54,000 at 2%.