Guideline Value for Gurusamy Nagar 4th Street

Gurusamy Nagar 4th Street guideline value

The current guideline value of Gurusamy Nagar 4th 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 is classified as Residential Class I Type - III.

How the guideline value of Gurusamy Nagar 4th Street has changed

The guideline value for Gurusamy Nagar 4th Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. Following this, the value saw a significant increase to Rs 2,500 per sq.ft in 2023, and then further rose to Rs 2,650 per sq.ft in 2024, reflecting a 6% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a modest increase of 6%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO, with guideline values ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Gurusamy Nagar 4th Street's 2024 figure above this median.

• Gurusamy Nagar 4th Cross Street (Yamuna Street): Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 3rd Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 3rd Cross Street (Saraswathi Street): Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 3rd Cross Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 2nd Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 5th Cross Street (Hanuman Nagar): Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Nagar 4th 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, bringing the total fees together to Rs 2,38,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gurusamy Nagar 4th Street?

The Gurusamy Nagar 4th Street falls under 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 during the registration of property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the expected value of the property. Buyers should be aware that the actual sale price may be higher or lower than the guideline value, but the duty is charged on the higher of the two figures.

Frequently asked questions

What is the current guideline value of Gurusamy Nagar 4th Street?

The current guideline value of Gurusamy Nagar 4th 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 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,650 per sq.ft in 2024.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 2,38,500.

Which Sub Registrar Office covers Gurusamy Nagar 4th Street?

The Selaiyur Sub Registrar Office covers Gurusamy Nagar 4th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Gurusamy Nagar 4th Street?

The land classification for Gurusamy Nagar 4th Street is Residential Class I Type - III, indicating its suitability for residential development.