Guideline Value for Guruswamy Nagar Avenue

Guruswamy Nagar Avenue guideline value

The current guideline value of Guruswamy Nagar Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Guruswamy Nagar Avenue has changed

The guideline value for Guruswamy Nagar Avenue has seen significant changes over the years. In 2003, the value was Rs 38 per sq.ft, which increased to Rs 130 per sq.ft in 2007, marking a change of +242%. The value then surged to Rs 1,340 per sq.ft in 2017, reflecting a remarkable increase of +931%. By the 2023 revision, the value reached Rs 2,000 per sq.ft, a rise of +49% from the previous revision. Finally, the current guideline value stands at Rs 2,200 per sq.ft as of the 2024 revision, representing a +10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2012 for Guruswamy Nagar Avenue in the register.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO with a guideline value for 2024 ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value is Rs 2,420 per sq.ft, placing Guruswamy Nagar Avenue's guideline value below this median.

• Ganga Street: Rs 2,200 per sq.ft (2024)
• Jayaraman Street: Rs 2,420 per sq.ft (2024)
• Jayaram Nagar 1st Street: Rs 2,420 per sq.ft (2024)
• Jayaram Nagar 2nd Street: Rs 2,420 per sq.ft (2024)
• Jayaram Nagar Main Road: Rs 2,420 per sq.ft (2024)
• Gandhi Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Guruswamy Nagar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% is Rs 1,54,000, and the registration fee at 2% is Rs 44,000, bringing the total to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Guruswamy Nagar Avenue?

The Guruswamy Nagar Avenue falls under the jurisdiction of 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Guruswamy Nagar Avenue?

The current guideline value of Guruswamy Nagar Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 38 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, representing a total increase of +5689% over the years.

What is the registration office for Guruswamy Nagar Avenue?

The registration office for Guruswamy Nagar Avenue is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for a property in Guruswamy Nagar Avenue?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Are there other streets in Thiruneermalai with different guideline values?

Yes, there are other streets in Thiruneermalai with varying guideline values. For example, Ganga Street has a guideline value of Rs 2,200 per sq.ft, while streets like Jayaraman Street and Jayaram Nagar 1st Street have a guideline value of Rs 2,420 per sq.ft.