Guideline Value for Gurusamy Nagar

Gurusamy Nagar guideline value

The current guideline value of Gurusamy Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Gurusamy Nagar has changed

The guideline value for Gurusamy Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 1,208 per sq.ft. This increased significantly to Rs 3,600 per sq.ft in 2012, marking a 198% rise. However, it then decreased to Rs 2,412 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again to Rs 3,600 per sq.ft in 2023, and further rose to the current rate of Rs 3,960 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%, and overall, from 2007 to 2024, the guideline value has increased by 228%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Madanandapuram

Madanandapuram has a total of 94 streets under the Kunrathur SRO carrying a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft, with a median value of Rs 3,520 per sq.ft. The guideline value for Gurusamy Nagar is above this median.

• Himachal Nagar: Rs 3,190 per sq.ft (2024)
• Himachal Nagar Annex: Rs 3,190 per sq.ft (2024)
• Himatchal Nagar Phase II: Rs 3,190 per sq.ft (2024)
• G.K. Nagar: Rs 3,190 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 3,190 per sq.ft (2024)
• E,.V.P. Santhosh Nagar Extension II: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total cost to Rs 3,56,400. It's important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gurusamy Nagar?

The Gurusamy Nagar area falls under the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure they are informed about the current guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Gurusamy Nagar?

The current guideline value of Gurusamy Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,208 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, showing an overall increase of 228% over the years.

What is the land classification for Gurusamy Nagar?

Gurusamy Nagar is classified as Residential Special Type - I under the guideline value register.

Where can I find the registration office for Gurusamy Nagar?

The registration office for Gurusamy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 at 7%.