Guideline Value for Gurusamy Nagar3rd street

Gurusamy Nagar3rd street guideline value

The current guideline value of Gurusamy Nagar3rd street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village and falls under the Periamet SRO with a land classification of Residential Class IV Type - I.

How the guideline value of Gurusamy Nagar3rd street has changed

The guideline value for Gurusamy Nagar3rd street has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 600 per sq.ft. This increased to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 317%. However, in the 2017 revision, it decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,700 per sq.ft in 2024, reflecting an increase of 8% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 350%, illustrating the fluctuations over the years.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. Gurusamy Nagar3rd street's 2024 guideline value is below this median.

• Gurusamy Nagar 2nd street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 4th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 1st street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 5th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 10th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 6th street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Nagar3rd 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, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration would be Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gurusamy Nagar3rd street?

The Sub Registrar Office that covers Gurusamy Nagar3rd 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

When buying or selling property in Vepery, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which the property can be registered, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the overall cost of property transactions. The registration process requires that the property be valued at either the guideline value or the sale price, whichever is higher, to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Gurusamy Nagar3rd street?

The current guideline value of Gurusamy Nagar3rd 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 significantly from Rs 600 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 350% over the years.

What are the stamp duty and registration fees for property in Gurusamy Nagar3rd street?

For a 1,000 sq.ft plot, the total guideline value is 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, totaling Rs 2,43,000.

Which Sub Registrar Office covers Gurusamy Nagar3rd street?

The Periamet Sub Registrar Office covers Gurusamy Nagar3rd street, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the property is registered at a value that reflects the minimum price set by the government.