Guideline Value for Guruvayurappan Nagar

Guruvayurappan Nagar guideline value

The current guideline value of Guruvayurappan Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024. This locality is situated in Kilkattalai village under the Pallavaram SRO, with a land classification of Residential Class I Type - II.

How the guideline value of Guruvayurappan Nagar has changed

The guideline value for Guruvayurappan Nagar has seen significant changes over the years. The earliest recorded figure is from 2003, which was Rs 218 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a substantial rise of 83%. In 2012, the value surged to Rs 2,300 per sq.ft, reflecting an increase of 475%. However, between 2012 and 2017, there was a notable decrease of 33%, bringing the value down to Rs 1,541 per sq.ft. The value then rose significantly to Rs 2,300 per sq.ft in 2023, and further increased by 10% to the current value of Rs 2,530 per sq.ft in 2024.

The changes between the revisions highlight the fluctuations in guideline values over the years. From 2017 to 2023, the increase was 49%. Overall, from 2003 to 2024, the guideline value has increased by an impressive 1061%. The register has no figure for this street in 2002.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which is equal to the current value of Guruvayurappan Nagar.

• Indian Colony: Rs 2,200 per sq.ft (2024)
• Indian Colony (Sai Street): Rs 2,200 per sq.ft (2024)
• Gowthama Nagar: Rs 2,160 per sq.ft (2024)
• Golden Avenue: Rs 2,200 per sq.ft (2024)
• Gokulam Nagar Ext: Rs 2,200 per sq.ft (2024)
• Iyappa Nagar: Rs 2,750 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 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600. Together, the total cost for stamp duty and registration fee would be Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Guruvayurappan Nagar?

The Sub Registrar Office that covers Guruvayurappan Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers need to be aware that the guideline value may influence the overall costs associated with property transactions, including stamp duty and registration fees.

When a property is sold, the sale price must be equal to or greater than the guideline value. This ensures that the government receives appropriate revenue from property transactions. Therefore, understanding the guideline value is essential for anyone looking to engage in real estate transactions in Kilkattalai.

Frequently asked questions

What is the current guideline value of Guruvayurappan Nagar?

The current guideline value of Guruvayurappan Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 218 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 1061% over the years.

What is the registration office for Guruvayurappan Nagar?

The registration office for Guruvayurappan Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

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

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for the minimum value at which a property can be registered. It affects the stamp duty and registration fees during property transactions in Kilkattalai.