Guideline Value for Gurusamy Street

Gurusamy Street guideline value

The current guideline value of Gurusamy Street in Menambedu village is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Special Type - I.

How the guideline value of Gurusamy Street has changed

The guideline value for Gurusamy Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,072 per sq.ft. There is no figure available for the revisions in 2002, 2003, and 2007.

In the subsequent revisions, the value increased to Rs 1,600 per sq.ft in 2023, marking a 49% rise from 2017. The latest revision in 2024 has further increased the guideline value to Rs 1,700 per sq.ft, reflecting a 6% increase from the previous year.

Guideline values in Menambedu

In Menambedu, a total of 171 streets are recorded under the Ambattur SRO for the 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value in this area is Rs 1,003 per sq.ft, positioning Gurusamy Street's 2024 figure above that median.

• Guru Nel Street: Rs 1,001 per sq.ft (2024)
• HariKrishna Naidu Street: Rs 1,001 per sq.ft (2024)
• Govindharajan Street: Rs 1,700 per sq.ft (2024)
• Indian Bank Colony: Rs 1,700 per sq.ft (2024)
• Gopalakrishnan Street: Rs 1,001 per sq.ft (2024)
• Indira Nagar: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the 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 Street?

The Gurusamy Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

When buying or selling property in Menambedu, understanding the guideline value helps both buyers and sellers in making informed decisions regarding pricing and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gurusamy Street?

The current guideline value of Gurusamy Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, a 6% increase. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012, showing significant changes over the years.

What is the land classification for Gurusamy Street?

Gurusamy Street is classified as Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Gurusamy Street?

The Sub Registrar Office covering Gurusamy Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Gurusamy Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 at 7%.