Guideline Value for Gurusamy Nagar 3rd Cross Street

Gurusamy Nagar 3rd Cross Street guideline value

The current guideline value of Gurusamy Nagar 3rd Cross Street is Rs 2,650 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Gurusamy Nagar 3rd Cross Street has changed

The guideline value for Gurusamy Nagar 3rd Cross Street has seen several revisions over the years. The earliest available figure is from 2012, where it was set at Rs 2,500 per sq.ft. This value remained the same until the 2017 revision, which decreased to Rs 1,675 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,650 per sq.ft, which is a 6% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, when comparing the figures from 2012 to 2024, the guideline value has increased by 6%.

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 of 2024. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Gurusamy Nagar 3rd Cross Street above this median.

• Gurusamy Nagar 2nd Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 3rd Cross Street (Saraswathi Street): Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 2nd Main Road: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 3rd Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 2nd Cross Street (Vivekananthar Street): Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 4th Cross Street (Yamuna Street): Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Nagar 3rd 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 would be Rs 26,50,000. The stamp duty at 7% would amount to 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 higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gurusamy Nagar 3rd Cross Street?

The Sub Registrar Office that covers Gurusamy Nagar 3rd Cross Street 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 details.

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

The guideline value plays a crucial role in property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value during negotiations to ensure compliance with legal requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gurusamy Nagar 3rd Cross Street?

The current guideline value of Gurusamy Nagar 3rd 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 several times, with the most recent increase from Rs 2,500 per sq.ft in 2023 to Rs 2,650 per sq.ft in 2024, which is a 6% increase. The value has also increased significantly from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023.

What are the guideline values for other streets in Gowrivakkam?

Other streets in Gowrivakkam have guideline values ranging from Rs 840 to Rs 3,750 per sq.ft. Gurusamy Nagar 3rd Cross Street is currently valued above the median of Rs 2,200 per sq.ft.

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

For a 1,000 sq.ft property at the guideline value of Rs 2,650 per sq.ft, the total guideline value would be 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.

Which office handles property registrations for Gurusamy Nagar 3rd Cross Street?

The Selaiyur Sub Registrar Office handles property registrations for Gurusamy Nagar 3rd Cross Street. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.