Guideline Value for Gurusamy Nagar 5th street

Gurusamy Nagar 5th street guideline value

The current guideline value for Gurusamy Nagar 5th street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Gurusamy Nagar 5th street has changed

The guideline value for Gurusamy Nagar 5th street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,700 per sq.ft, reflecting an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 350%. Notably, there are no figures available for Gurusamy Nagar 5th street for the years 2002 and 2003 in the register.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with guideline values ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 4,800 per sq.ft, indicating that the 2024 figure for Gurusamy Nagar 5th street is below this median.

• Gurusamy Nagar 4th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 6th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 3rd street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 7th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 2nd street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 8th street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Nagar 5th 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 calculate your stamp duty and registration fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gurusamy Nagar 5th street?

The Sub Registrar Office that covers Gurusamy Nagar 5th street is 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 plays a crucial role in the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the amount of stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gurusamy Nagar 5th street?

The current guideline value of Gurusamy Nagar 5th 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 several times, starting from Rs 600 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024. The most notable change was a significant increase of 317% from 2007 to 2012.

What are the other streets with the same guideline value in Vepery?

Other streets in Vepery that share the same guideline value of Rs 2,700 per sq.ft include Gurusamy Nagar 4th, 6th, 3rd, 7th, 2nd, and 8th streets.

What are the stamp duty and registration fees for property in Gurusamy Nagar 5th street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 27,00,000. The stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Gurusamy Nagar 5th street?

The Periamet Sub Registrar Office covers Gurusamy Nagar 5th street, located at 1103, Poonamallee High Road, Chennai-600 003.