Guideline Value for Gurusamy Nagar 5th Cross Street (Hanuman Nagar)

Gurusamy Nagar 5th Cross Street (Hanuman Nagar) guideline value

The current guideline value of Gurusamy Nagar 5th Cross Street (Hanuman Nagar) 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 5th Cross Street (Hanuman Nagar) has changed

The guideline value for Gurusamy Nagar 5th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 200 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 1,150%. However, by 2017, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, showing an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 2,650 per sq.ft, which is a 6% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1,225%.

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, with a median value of Rs 2,200 per sq.ft. The guideline value for Gurusamy Nagar 5th Cross Street (Hanuman Nagar) is above this median.

• Gurusamy Nagar Ext: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Extn 2nd Main Road-Balaji Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Extn Annai Theresa Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Extn Kaveri Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar 4th Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Extn Sivan Koil Street: Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Nagar 5th Cross Street (Hanuman Nagar)

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. Together, the total cost for stamp duty and registration fee would be 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.

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

Which Sub Registrar Office covers Gurusamy Nagar 5th Cross Street (Hanuman Nagar)?

The Sub Registrar Office that covers Gurusamy Nagar 5th Cross Street (Hanuman Nagar) 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

The guideline value is a critical factor in property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it affects the overall cost of the transaction. It is advisable to check the latest figures before proceeding with any property dealings to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gurusamy Nagar 5th Cross Street (Hanuman Nagar)?

The current guideline value of Gurusamy Nagar 5th Cross Street (Hanuman Nagar) 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 200 per sq.ft in 2007 to Rs 2,650 per sq.ft in 2024, showing an overall increase of 1,225% over the years.

What are the stamp duty and registration fees for property transactions here?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for this area?

The Selaiyur Sub Registrar Office handles registrations for Gurusamy Nagar 5th Cross Street (Hanuman Nagar), located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Gurusamy Nagar 5th Cross Street (Hanuman Nagar)?

The land classification for Gurusamy Nagar 5th Cross Street (Hanuman Nagar) is Residential Class I Type - III.