Guideline Value for Guruthuvara South Part

Guruthuvara South Part guideline value

The current guideline value of Guruthuvara South Part is Rs 2,200 per sq.ft. It is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Guruthuvara South Part has changed

The guideline value for Guruthuvara South Part has seen several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 900%. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that the guideline value register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1000%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Guruthuvara South Part aligns with this median.

• Hasan Nagar Colony: Rs 2,400 per sq.ft (2024)
• Housing Board Quarters: Rs 950 per sq.ft (2024)
• I.A.F Road: Rs 4,400 per sq.ft (2024)
• I.A.F Road Arunachalam Street: Rs 4,400 per sq.ft (2024)
• I.A.F Road Sakthi Avenue: Rs 4,400 per sq.ft (2024)
• Immanuel Street: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Guruthuvara South Part

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Guruthuvara South Part?

The Guruthuvara South Part is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements during property transactions. It also helps in assessing the financial implications of the registration process.

Frequently asked questions

What is the current guideline value of Guruthuvara South Part?

The current guideline value of Guruthuvara South Part 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 changed from Rs 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What were the guideline values in the previous revisions?

The guideline values were Rs 2,000 per sq.ft in 2012, Rs 1,340 per sq.ft in 2017, and Rs 2,000 per sq.ft in 2023, with the latest revision in 2024 setting it at Rs 2,200 per sq.ft.

What is the role of the Selaiyur SRO?

The Selaiyur SRO is responsible for the registration of properties in the Guruthuvara South Part area. It ensures that all transactions comply with the legal framework and guidelines set by the government.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. These fees are essential for the legal registration of property transactions.