Guideline Value for Gurusamy Nagar Extn Sivan Koil Street

Gurusamy Nagar Extn Sivan Koil Street guideline value

The current guideline value for Gurusamy Nagar Extn Sivan Koil 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 Extn Sivan Koil Street has changed

The guideline value for Gurusamy Nagar Extn Sivan Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further to Rs 2,650 per sq.ft in 2024, marking a 6% increase from the previous year.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 6%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft. The median value of these streets is Rs 2,200 per sq.ft, placing Gurusamy Nagar Extn Sivan Koil Street above this median.

• Gurusamy Nagar Extn Kaveri Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Extn-Vaigai Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Extn Annai Theresa Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Extn 2nd Main Road-Balaji Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar Ext: Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Nagar Extn Sivan Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,650 per sq.ft, the 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, totaling Rs 2,38,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gurusamy Nagar Extn Sivan Koil Street?

The Sub Registrar Office that covers Gurusamy Nagar Extn Sivan Koil Street 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 crucial factor during the registration process when buying or selling property in Gowrivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that both parties are aware of the financial obligations involved.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This means that if the sale price exceeds the guideline value, the stamp duty will be calculated on the sale price instead.

Frequently asked questions

What is the current guideline value for Gurusamy Nagar Extn Sivan Koil Street?

The current guideline value for Gurusamy Nagar Extn Sivan Koil 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 increased 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 rates for properties in this area?

The stamp duty for properties in Gurusamy Nagar Extn Sivan Koil Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

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

What is the median guideline value for streets in Gowrivakkam?

The median guideline value for the 130 streets in Gowrivakkam under the Selaiyur SRO is Rs 2,200 per sq.ft, with Gurusamy Nagar Extn Sivan Koil Street being above this median at Rs 2,650 per sq.ft.