Guideline Value for Guruswamy Nagar

Guruswamy Nagar guideline value

The current guideline value of Guruswamy Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Gowrivakkam village under the Selaiyur SRO and is classified as Commercial Class I Type - II.

How the guideline value of Guruswamy Nagar has changed

The guideline value for Guruswamy Nagar has undergone several revisions over the years. The earliest available revision is from 2012, where the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then further to Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, comparing the 2012 revision with the 2024 revision, there has been an 8% increase. It is important to note that there are no figures available for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO with a guideline value for 2024 ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Guruswamy Nagar's 2024 figure above this median.

• Gurusamy Nagar Pirathana Salai& Kaveri Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Pirathana Salai: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar Extn-Vaigai Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Extn Sivan Koil Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Extn Kaveri Street: Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in Guruswamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for stamp duty and registration fees to Rs 2,43,000. 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 further calculations.

Which Sub Registrar Office covers Guruswamy Nagar?

The Guruswamy Nagar area falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Gowrivakkam

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Guruswamy Nagar, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings in Gowrivakkam.

Frequently asked questions

What is the current guideline value of Guruswamy Nagar?

The current guideline value of Guruswamy Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Guruswamy Nagar?

Guruswamy Nagar is classified as Commercial Class I Type - II.

How does Guruswamy Nagar's guideline value compare to other streets in Gowrivakkam?

The guideline value of Guruswamy Nagar at Rs 2,700 per sq.ft is above the median guideline value of Rs 2,200 per sq.ft for other streets in Gowrivakkam.

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

For a property valued at Rs 27,00,000, the stamp duty is Rs 1,89,000 and the registration fee is Rs 54,000, totaling Rs 2,43,000. Duty is charged on the higher of the guideline value or the sale price.