Guideline Value for Gurusamy Nagar 1st Street

Gurusamy Nagar 1st Street guideline value

The current guideline value of Gurusamy Nagar 1st Street is Rs 2,650 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village under the Selaiyur SRO and is classified as Residential Class I Type - III.

How the guideline value of Gurusamy Nagar 1st Street has changed

Over the years, the guideline value of Gurusamy Nagar 1st Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,650 per sq.ft from the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

When examining the changes, the value increased by 49% from 2017 to 2023. The 2023 to 2024 revision reflects a 6% increase. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 840 to Rs 3,750 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, making the 2024 figure for Gurusamy Nagar 1st Street above this median.

• Gurusamy Nagar 1st Main Road: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 2nd Cross Street (vivekananthar street): Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 1st Cross Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 2nd Main Road: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 2nd Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 3rd Cross Street: Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,650 per sq.ft, the total guideline value would be Rs 26,50,000. The stamp duty at 7% would amount to Rs 1,85,500, and the registration fee at 2% would be Rs 53,000, bringing the total cost to Rs 2,38,500. 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 Nagar 1st Street?

The Gurusamy Nagar 1st Street falls under 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 Gowrivakkam

The guideline value plays a crucial role when buying or selling property in Gowrivakkam. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to consider the guideline value as it ensures compliance with local regulations. This value serves as a benchmark for transactions and is vital for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Gurusamy Nagar 1st Street?

The current guideline value of Gurusamy Nagar 1st Street is Rs 2,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,650 per sq.ft in 2024.

What is the land classification of Gurusamy Nagar 1st Street?

Gurusamy Nagar 1st Street is classified as Residential Class I Type - III.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Gurusamy Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,85,500.