Guideline Value for Guruvappa Street

Guruvappa Street guideline value

The current guideline value of Guruvappa Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Guruvappa Street has changed

The guideline value for Guruvappa Street has seen several revisions over the years. In the 2007 revision, the value was Rs 800 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 150% rise. However, the value decreased to Rs 1,340 per sq.ft in the 2017 revision, reflecting a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, an increase of 64% from 2017.

It is important to note that the register has no figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has risen by 175%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for the area is Rs 1,600 per sq.ft, placing Guruvappa Street's 2024 figure above this median.

• Gurusadi Lane: Rs 1,300 per sq.ft (2024)
• Harbour Railway: Rs 1,300 per sq.ft (2024)
• Harinarayanapuram 1st Street: Rs 1,300 per sq.ft (2024)
• Harinarayanapuram 2nd Street: Rs 1,300 per sq.ft (2024)
• Harinarayanapuram 3rd Street: Rs 1,300 per sq.ft (2024)
• Harinarayanapuram 4th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Guruvappa Street

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

Which Sub Registrar Office covers Guruvappa Street?

The Sub Registrar Office that covers Guruvappa Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It serves as the basis for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during registration.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Guruvappa Street?

The current guideline value of Guruvappa Street 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 800 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 175% over this period.

What are the stamp duty and registration fees for property in Guruvappa Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Guruvappa Street?

The Royapuram Sub Registrar Office covers Guruvappa Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Guruvappa Street?

The land classification for Guruvappa Street is Residential Class I Type - I.