Guideline Value for Guruswamy Nagar

Guruswamy Nagar guideline value

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

How the guideline value of Guruswamy Nagar has changed

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

Overall, from 2007 to 2024, the guideline value has increased by 369%. The register does not contain figures for the years 2002 and 2003 for this street.

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's 2024 value is above this median.

• Guruswamy Nagar Extension: 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

For a 1,000 sq.ft plot at the current rate of Rs 3,520 per sq.ft, the guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be 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 the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Guruswamy Nagar?

The Guruswamy Nagar locality 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 critical factor when registering property transactions in Mogalivakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Guruswamy Nagar?

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

What is the land classification for Guruswamy Nagar?

The land classification for Guruswamy Nagar is Mixed Special Type - I, indicating its diverse usage potential.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles property registrations for Guruswamy Nagar.

How is the stamp duty calculated for properties in Guruswamy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 35,20,000 would incur a stamp duty of Rs 2,46,400 at 7%.