Guideline Value for Gurusamy Nagar 2nd street

Gurusamy Nagar 2nd street guideline value

The current guideline value of Gurusamy Nagar 2nd street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

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. Starting from the 2007 revision, the value was Rs 600 per sq.ft, which saw a significant increase to Rs 2,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft. The 2023 revision set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 raised it to Rs 2,700 per sq.ft, marking an increase of 8% from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 350%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that have 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. The guideline value for Gurusamy Nagar 2nd street is below this median.

• Gurusamy Nagar 1st street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 3rd street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 10th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 4th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 5th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 6th street: Rs 2,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to 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 more detailed calculations.

Which Sub Registrar Office covers Gurusamy Nagar 2nd street?

The Gurusamy Nagar 2nd street is covered by 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 during the registration of property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the fees are based on a standardized valuation. This process helps maintain transparency and consistency in property transactions.

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 2,700 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, marking an overall increase of 350% over the years.

What are the stamp duty rates for property in Gurusamy Nagar 2nd street?

The stamp duty rate for property transactions in Gurusamy Nagar 2nd street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Gurusamy Nagar 2nd street?

The Sub Registrar Office covering Gurusamy Nagar 2nd street is the Periamet SRO, located at 1103, Poonamallee High Road, Chennai-600 003.

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

The land classification for Gurusamy Nagar 2nd street is Residential Class IV Type - I.