Guideline Value for Guruswamy Nagar 2nd Street

Guruswamy Nagar 2nd Street guideline value

The current guideline value of Guruswamy Nagar 2nd Street is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village, under the Pammal SRO, and is classified as Residential Class III Type - I.

How the guideline value of Guruswamy Nagar 2nd Street has changed

The guideline value for Guruswamy Nagar 2nd Street has seen significant changes over the years. In 2003, the guideline value was Rs 188 per sq.ft, which increased to Rs 515 per sq.ft in 2007, marking a change of +174%. By 2017, it rose to Rs 1,407 per sq.ft, representing a substantial increase of +173%. The value continued to rise, reaching Rs 2,099 per sq.ft in 2023, which was a +49% increase from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 2,350 per sq.ft, reflecting a change of +12% from 2023.

It is important to note that there are no figures available for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by +1150%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value for Guruswamy Nagar 2nd Street is above this median.

• Guruswamy Nagar 1st Street: Rs 2,350 per sq.ft (2024)
• Guruswamy Nagar 3rd Street: Rs 2,350 per sq.ft (2024)
• Guruswamy Nagar 4th Street: Rs 2,350 per sq.ft (2024)
• Guruswamy Nagar 5th Street: Rs 2,350 per sq.ft (2024)
• Guruswamy Avenue -II: Rs 2,350 per sq.ft (2024)
• Guruswamy Nagar 6th Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in Guruswamy Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value would be Rs 23,50,000. The stamp duty at 7% would amount to Rs 1,64,500, and the registration fee at 2% would be Rs 47,000. Together, these fees would total Rs 2,11,500. It is important to note that the 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 information.

Which Sub Registrar Office covers Guruswamy Nagar 2nd Street?

The Guruswamy Nagar 2nd Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Anakaputhur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use the guideline value to calculate applicable fees.

When a property is sold, the guideline value ensures that the government receives the appropriate stamp duty and registration fees based on the property's value. This process helps maintain transparency and standardization in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Guruswamy Nagar 2nd Street?

The current guideline value of Guruswamy Nagar 2nd Street is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 188 per sq.ft in 2003 to Rs 2,350 per sq.ft in 2024, showing an overall increase of +1150% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 23,50,000, the stamp duty would be Rs 1,64,500 and the registration fee would be Rs 47,000, totaling Rs 2,11,500.

Which office handles property registrations for Guruswamy Nagar 2nd Street?

The Pammal Sub Registrar Office handles property registrations for Guruswamy Nagar 2nd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Guruswamy Nagar 2nd Street?

The land classification for Guruswamy Nagar 2nd Street is Residential Class III Type - I.