Guideline Value for Gurusamy Nagar 8th street

Gurusamy Nagar 8th street guideline value

The current guideline value of Gurusamy Nagar 8th 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 8th street has changed

The guideline value for Gurusamy Nagar 8th street has undergone several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision raised it to Rs 2,500 per sq.ft, and the current 2024 revision has further increased it to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 350%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value is Rs 4,800 per sq.ft, indicating that the 2024 guideline value for Gurusamy Nagar 8th street is below this median.

• Gurusamy Nagar 7th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 9th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 6th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar Backside: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 5th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 4th street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Nagar 8th street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gurusamy Nagar 8th street?

The Sub Registrar Office that covers Gurusamy Nagar 8th 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 is a crucial factor during the registration of property transactions in Vepery. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue in the form of stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in assessing the fair value of the property, although the actual sale price may vary based on market conditions.

Frequently asked questions

What is the current guideline value of Gurusamy Nagar 8th street?

The current guideline value of Gurusamy Nagar 8th 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, reflecting a total increase of 350% over the years.

What are the stamp duty and registration fees for property in Gurusamy Nagar 8th street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,43,000.

Which Sub Registrar Office covers this area?

The Periamet Sub Registrar Office covers Gurusamy Nagar 8th street, located at 1103, Poonamallee High Road, Chennai-600 003.

How does the guideline value affect property transactions?

The guideline value serves as a minimum benchmark for property registration, ensuring that appropriate stamp duty and registration fees are collected. It helps both buyers and sellers assess the value of the property during transactions.