Guideline Value for Gurusamy Nagar 2nd Main Road

Gurusamy Nagar 2nd Main Road guideline value

The current guideline value of Gurusamy Nagar 2nd Main Road is Rs 2,650 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village, under the Selaiyur SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Gurusamy Nagar 2nd Main Road has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft, marking a drop of 33%. The value then increased significantly in the 2023 revision to Rs 2,500 per sq.ft, before rising again to Rs 2,650 per sq.ft in the 2024 revision, reflecting a 6% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a total increase of 6% in the guideline value.

Guideline values in Gowrivakkam

Gowrivakkam village has a total of 130 streets under the Selaiyur SRO, with guideline values ranging from Rs 840 to Rs 3,750 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Gurusamy Nagar 2nd Main Road above this median.

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

Stamp duty and registration fee for property in Gurusamy Nagar 2nd Main Road

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 cost to Rs 2,38,500. Please note that the 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 further calculations.

Which Sub Registrar Office covers Gurusamy Nagar 2nd Main Road?

The Sub Registrar Office that covers Gurusamy Nagar 2nd Main Road is 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

When buying or selling property in Gowrivakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the Registration Department and is used as a benchmark for property transactions to ensure compliance with legal requirements.

At the time of registration, the buyer or seller must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and fairly in the official records.

Frequently asked questions

What is the current guideline value of Gurusamy Nagar 2nd Main Road?

The current guideline value of Gurusamy Nagar 2nd Main Road 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 is the land classification for Gurusamy Nagar 2nd Main Road?

Gurusamy Nagar 2nd Main Road is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties here?

For a property valued at 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, totaling Rs 2,38,500.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Gurusamy Nagar 2nd Main Road is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.