Guideline Value for Guruvayurappan Nagar

Guruvayurappan Nagar guideline value

The current guideline value of Guruvayurappan Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Manancheri village and falls under the Kunrathur SRO with a land classification of Residential Class I Type - I.

How the guideline value of Guruvayurappan Nagar has changed

The guideline value for Guruvayurappan Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, with a value of Rs 250 per sq.ft. This increased significantly to Rs 900 per sq.ft in 2012, a rise of 260%. However, it then decreased to Rs 603 per sq.ft in 2017, marking a decline of 33%. The value rose again to Rs 900 per sq.ft in 2023, and finally, it reached Rs 990 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. There are no figures available for the revisions in 2002 and 2003 for this street.

In summary, the guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, representing an overall increase of 296%. The value saw a substantial jump of 49% from 2017 to 2023, reflecting the fluctuations in property values over the years.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 550 to Rs 3,400 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, which is the same as the current value for Guruvayurappan Nagar. Below are the guideline values for other streets in Manancheri:

• Hari Avenue: Rs 990 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 990 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 990 per sq.ft (2024)
• Kalyani Nagar Part II: Rs 1,320 per sq.ft (2024)
• Devandran Nagar: Rs 990 per sq.ft (2024)
• Devaki Nagar 4th Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Guruvayurappan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Guruvayurappan Nagar?

The Sub Registrar Office that covers Guruvayurappan Nagar 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 Manancheri

The guideline value plays a crucial role in the registration process when buying or selling property in Manancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that these fees are calculated based on a standardized value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Guruvayurappan Nagar?

The current guideline value of Guruvayurappan Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, with several revisions occurring in between, including a significant increase of 49% from 2017 to 2023.

What is the registration fee for property in Guruvayurappan Nagar?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 9,90,000, the registration fee would be Rs 19,800.

Where can I find the Sub Registrar Office for Guruvayurappan Nagar?

The Sub Registrar Office for Guruvayurappan Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Manancheri?

Stamp duty is calculated based on the higher of the guideline value and the sale price of the property. For example, if the guideline value is Rs 9,90,000, the stamp duty at 7% would be Rs 69,300.