Guideline Value for Gurusamy Nagar Extn-Vaigai Street

Gurusamy Nagar Extn-Vaigai Street guideline value

The current guideline value of Gurusamy Nagar Extn-Vaigai Street 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 Extn-Vaigai Street has changed

The guideline value for Gurusamy Nagar Extn-Vaigai Street has undergone several revisions over the years. Starting from the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has 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 figures available for Gurusamy Nagar Extn-Vaigai Street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 6%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, and Gurusamy Nagar Extn-Vaigai Street's 2024 figure is above this median.

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

Stamp duty and registration fee for property in Gurusamy Nagar Extn-Vaigai Street

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 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 detailed calculations.

Which Sub Registrar Office covers Gurusamy Nagar Extn-Vaigai Street?

The Sub Registrar Office that covers Gurusamy Nagar Extn-Vaigai 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 plays a crucial role in the registration process of property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gurusamy Nagar Extn-Vaigai Street?

The current guideline value of Gurusamy Nagar Extn-Vaigai 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 is the land classification for Gurusamy Nagar Extn-Vaigai Street?

The land classification for Gurusamy Nagar Extn-Vaigai Street is Residential Class I Type - III.

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.

How is the stamp duty calculated for properties in Gurusamy Nagar Extn-Vaigai Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is charged on the same value.