Guideline Value for Gurusamy Nagar Ext

Gurusamy Nagar Ext guideline value

The current guideline value of Gurusamy Nagar Ext is Rs 2,650 per sq.ft, effective from 1 July 2024. This area 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 Ext has changed

The guideline value for Gurusamy Nagar Ext has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,675 per sq.ft. The next revision in 2023 increased the value to Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,650 per sq.ft, marking a 6% increase from the previous year.

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

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 of Gurusamy Nagar Ext is above this median.

• Gurusamy Nagar 5th Cross Street (Hanuman Nagar): 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 Extn Sivan Koil Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Extn-Vaigai Street: Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Nagar Ext

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, totaling 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 also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gurusamy Nagar Ext?

The Gurusamy Nagar Ext area is covered by 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Gowrivakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is sold, the buyer and seller must consider the guideline value to determine the applicable fees. The registration office will assess the transaction based on this value, which may influence the overall cost of the property transfer.

Frequently asked questions

What is the current guideline value of Gurusamy Nagar Ext?

The current guideline value of Gurusamy Nagar Ext 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 2,650 per sq.ft in 2024. There was a decrease in 2017, followed by an increase in 2023 and then again in 2024.

What is the land classification for Gurusamy Nagar Ext?

Gurusamy Nagar Ext is classified as Residential Class I Type - III, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 2,38,500 based on the current guideline value.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can also find more information online.