Guideline Value for Gurusamy mainRoad

Gurusamy mainRoad guideline value

The current guideline value of Gurusamy mainRoad is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, classified as Residential Class III Type - III.

How the guideline value of Gurusamy mainRoad has changed

The guideline value for Gurusamy mainRoad has seen several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 800 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 275%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

There are no recorded figures for Gurusamy mainRoad in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Vepery

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

• Gurusamy Nagar 10th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 1st street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 2nd street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 3rd street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 4th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 5th street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusamy mainRoad

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the 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 mainRoad?

The Sub Registrar Office that covers Gurusamy mainRoad 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

The guideline value is a critical factor used during the registration of property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When engaging in a property transaction, it is essential to be aware that the guideline value will influence the overall costs, as duties are calculated based on this value or the sale price, whichever is higher. This ensures that the registration process aligns with the current market standards set by the Registration Department.

Frequently asked questions

What is the current guideline value of Gurusamy mainRoad?

The current guideline value of Gurusamy mainRoad is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 313% over the years.

What are the guideline values of other streets in Vepery?

Other streets in Vepery have varying guideline values, with the 2024 rates for Gurusamy Nagar streets being Rs 2,700 per sq.ft.

What fees are associated with buying property in Gurusamy mainRoad?

When buying property, you will need to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Gurusamy mainRoad is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.