Guideline Value for Gurusamy Street

Gurusamy Street guideline value

The current guideline value of Gurusamy Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Gurusamy Street has changed

The guideline value of Gurusamy Street has seen several changes over the years. In the 2007 revision, the value was Rs 945 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 4,020 per sq.ft in the 2017 revision. The 2023 revision saw a substantial increase to Rs 6,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 598%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Gurusamy Street.

• Habibullah Sahib Cross Street: Rs 5,500 per sq.ft (2024)
• Habibullah Sahib Street: Rs 5,500 per sq.ft (2024)
• Haji Shaik Hussain 1st Lane: Rs 6,600 per sq.ft (2024)
• Haji Shaik Hussain 2nd Lane: Rs 6,600 per sq.ft (2024)
• Haji Shaik Hussain Street: Rs 6,600 per sq.ft (2024)
• Hakkimmakdam Ashraf Street (H.M.A. Street): Rs 6,600 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 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. 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 Street?

The Sub Registrar Office that covers Gurusamy Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. 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 Street?

The current guideline value of Gurusamy Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 598% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 5,94,000.

Which Sub Registrar Office covers Gurusamy Street?

The Triplicane Sub Registrar Office covers Gurusamy Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification of Gurusamy Street?

The land classification for Gurusamy Street is Residential Class I Type - I, indicating its suitability for residential purposes.