Guideline Value for Gurusamy Nagar 1st street

Gurusamy Nagar 1st street guideline value

The current guideline value of Gurusamy Nagar 1st street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, and it falls under the Residential Class IV Type - I land classification.

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

The guideline value for Gurusamy Nagar 1st street has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017. Following this, the value rose to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,700 per sq.ft in 2024.

Between these revisions, notable changes include an increase of 317% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a substantial increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, from 2007 to 2024, the guideline value has increased by 350%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery village, 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, with a median value of Rs 4,800 per sq.ft. Gurusamy Nagar 1st street's 2024 figure is below this median.

• Gurusamy Nagar 10th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 2nd street: Rs 2,700 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 main Road: Rs 3,300 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 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total fees together Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gurusamy Nagar 1st street?

The Sub Registrar Office that covers Gurusamy Nagar 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor used during the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

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 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Gurusamy Nagar 1st street?

Gurusamy Nagar 1st street falls under the Residential Class IV Type - I land classification.

Where can I find the Sub Registrar Office for Gurusamy Nagar 1st street?

The Sub Registrar Office for Gurusamy Nagar 1st 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 1st street?

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