Guideline Value for Guruswamy Nagar Extension

Guruswamy Nagar Extension guideline value

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

How the guideline value of Guruswamy Nagar Extension has changed

The guideline value for Guruswamy Nagar Extension has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 750 per sq.ft. This figure increased significantly to Rs 3,200 per sq.ft in 2012, marking a rise of 327%. However, it then decreased to Rs 2,144 per sq.ft in 2017, a drop of 33%. In 2023, the value rose to Rs 3,200 per sq.ft, and the most recent revision in 2024 set it at Rs 3,520 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 369%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mogalivakkam

Mogalivakkam has 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. The guideline value of Guruswamy Nagar Extension is above this median.

• Guruswamy Nagar: Rs 3,520 per sq.ft (2024)
• Guruswamy Nagar Extension IV: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Guruswamy Nagar Extension?

The Sub Registrar Office that covers Guruswamy Nagar Extension is 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 when registering a property in Mogalivakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Guruswamy Nagar Extension?

The current guideline value of Guruswamy Nagar Extension 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 750 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, showing an overall increase of 369% over the years.

What are the other streets in Mogalivakkam with their guideline values?

Other streets in Mogalivakkam include Guruswamy Nagar at Rs 3,520 per sq.ft, Guruswamy Nagar Extension IV at Rs 3,520 per sq.ft, Gowri Nagar Extension at Rs 2,530 per sq.ft, and others with varying values.

What is the stamp duty rate for properties in Guruswamy Nagar Extension?

The stamp duty rate for properties in Guruswamy Nagar Extension is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Guruswamy Nagar Extension?

The Sub Registrar Office for Guruswamy Nagar Extension is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details through the provided link.