Guideline Value for Gurusanthi Nagar

Gurusanthi Nagar guideline value

The current guideline value of Gurusanthi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Gurusanthi Nagar has changed

The guideline value for Gurusanthi Nagar has seen several revisions over the years. In 2002, the value was Rs 402 per sq.ft, which increased to Rs 61 per sq.ft in 2003. Following this, the value rose significantly to Rs 200 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023 before reaching the current figure of Rs 1,650 per sq.ft in 2024.

Between the revisions, there were notable changes. From 2002 to 2003, the value decreased by 85%. The value then increased by 228% from 2003 to 2007. The rise from 2007 to 2012 was 650%, but it saw a decrease of 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 310%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median of Rs 1,102 per sq.ft. Gurusanthi Nagar's 2024 figure is above this median.

• Hari Gopal Enclave: Rs 1,102 per sq.ft (2024)
• Indira Nagar Annex: Rs 1,100 per sq.ft (2024)
• Indra Nagar: Rs 1,100 per sq.ft (2024)
• G.N.T. Road Check Post: Rs 3,300 per sq.ft (2024)
• G.N.T. Road: Rs 3,300 per sq.ft (2024)
• Gayathri Avenue: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gurusanthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, together totaling Rs 1,48,500. 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 Gurusanthi Nagar?

The Sub Registrar Office that covers Gurusanthi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Puzhal. It serves as a benchmark for calculating the stamp duty and registration fees that are required during the buying or selling process.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Gurusanthi Nagar?

The current guideline value of Gurusanthi Nagar is Rs 1,650 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 402 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 310% over this period.

What are the stamp duty rates for properties in Gurusanthi Nagar?

The stamp duty rate for properties in Gurusanthi Nagar is 7% of the guideline value or sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

Where can I find the Sub Registrar Office for Gurusanthi Nagar?

The Sub Registrar Office for Gurusanthi Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Gurusanthi Nagar?

Gurusanthi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.