Guideline Value for Gurusamy Nagar 1st Cross Street

Gurusamy Nagar 1st Cross Street guideline value

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

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

The guideline value for Gurusamy Nagar 1st Cross Street has undergone several revisions over the years. 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 2023 revision raised the value to Rs 2,500 per sq.ft, and the most recent 2024 revision increased it to Rs 2,650 per sq.ft, marking a 6% rise from the previous year.

From 2012 to 2017, there was a significant decrease of 33%, but the value rebounded by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 6%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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 for these streets is Rs 2,200 per sq.ft, making the 2024 figure for Gurusamy Nagar 1st Cross Street above the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,650 per sq.ft, the total guideline value amounts to Rs 26,50,000. The stamp duty at 7% would be Rs 1,85,500, and the registration fee at 2% would be Rs 53,000, bringing the total to Rs 2,38,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gurusamy Nagar 1st Cross Street?

The Gurusamy Nagar 1st Cross 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 is a crucial factor when buying or selling property in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property transaction occurs, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that the government receives its due revenue from property transactions.

Frequently asked questions

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

The current guideline value of Gurusamy Nagar 1st Cross 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 back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,650 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 26,50,000, the stamp duty would be Rs 1,85,500 and the registration fee would be Rs 53,000, totaling Rs 2,38,500.

Which office handles registrations for Gurusamy Nagar 1st Cross Street?

The Selaiyur Sub Registrar Office handles registrations for Gurusamy Nagar 1st Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Gurusamy Nagar 1st Cross Street?

The land classification for Gurusamy Nagar 1st Cross Street is Residential Class I Type - III.