Guideline Value for Guruswamy Nagar Extension IV

Guruswamy Nagar Extension IV guideline value

The current guideline value of Guruswamy Nagar Extension IV is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village and falls under the Kunrathur SRO, classified as Mixed Special Type - I.

How the guideline value of Guruswamy Nagar Extension IV has changed

Over the years, the guideline value for Guruswamy Nagar Extension IV has seen significant changes. The 2007 revision recorded a value of Rs 600 per sq.ft, which increased dramatically to Rs 3,200 per sq.ft in 2012, marking a rise of 433%. However, this value decreased to Rs 2,144 per sq.ft in 2017, reflecting a drop of 33%. The guideline value then increased substantially to Rs 3,200 per sq.ft in 2023, followed by a further increase to Rs 3,520 per sq.ft in 2024, which is a 10% rise from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, the guideline value has risen by 487% from the 2007 revision to the current 2024 rate.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft, with a median value of Rs 2,970 per sq.ft. Guruswamy Nagar Extension IV's 2024 figure of Rs 3,520 per sq.ft is above this median.

• Guruswamy Nagar Extension: Rs 3,520 per sq.ft (2024)
• Guruswamy Nagar: Rs 3,520 per sq.ft (2024)
• Gowri Nagar Extension: Rs 2,530 per sq.ft (2024)
• Gowri Nagar: Rs 2,970 per sq.ft (2024)
• H.T.L.Staff Colony: Rs 2,530 per sq.ft (2024)
• Jawaharlal Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Guruswamy Nagar Extension IV

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty, charged at 7%, would be Rs 2,46,400, while the registration fee at 2% would be Rs 70,400. Together, the total charges would amount to Rs 3,16,800. 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 Guruswamy Nagar Extension IV?

The Guruswamy Nagar Extension IV area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mogalivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are appropriately assessed based on the property’s value.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. The registration process requires adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Guruswamy Nagar Extension IV?

The current guideline value of Guruswamy Nagar Extension IV is Rs 3,520 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 600 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 487% over the years.

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

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles property registrations in Guruswamy Nagar Extension IV?

The Kunrathur Sub Registrar Office handles property registrations in Guruswamy Nagar Extension IV, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Guruswamy Nagar Extension IV?

The land classification for Guruswamy Nagar Extension IV is Mixed Special Type - I, which indicates the type of development and usage permitted in the area.