Guideline Value for Gurusamy Nagar 2nd Street

Gurusamy Nagar 2nd Street guideline value

The current guideline value for Gurusamy Nagar 2nd 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 it falls under the Residential Class I Type - III land classification.

How the guideline value of Gurusamy Nagar 2nd Street has changed

The guideline value for Gurusamy Nagar 2nd 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. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 2,650 per sq.ft, reflecting a 6% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Gurusamy Nagar 2nd Street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 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 for these streets is Rs 2,200 per sq.ft, placing Gurusamy Nagar 2nd Street's 2024 figure above the median.

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

Stamp duty and registration fee for property in Gurusamy Nagar 2nd 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, leading to a total of Rs 2,38,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gurusamy Nagar 2nd Street?

The Gurusamy Nagar 2nd Street is covered by 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 stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

When a property is registered, the guideline value is used to calculate the applicable duties, which are charged based on the higher of the guideline value or the sale price. This ensures that all transactions are recorded accurately and fairly within the framework set by the Registration Department.

Frequently asked questions

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

The current guideline value of Gurusamy Nagar 2nd 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 2023 to Rs 2,650 per sq.ft in 2024, reflecting a 6% increase. It was Rs 1,675 per sq.ft in 2017, which shows a significant rise of 49% to the 2023 figure.

What is the land classification for Gurusamy Nagar 2nd Street?

Gurusamy Nagar 2nd Street falls under the Residential Class I Type - III land classification, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Gurusamy Nagar 2nd Street?

The stamp duty is charged at 7% and the registration fee at 2% based on the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would be Rs 2,38,500.

Where is the Sub Registrar Office for Gurusamy Nagar 2nd Street located?

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