Guideline Value for Sri Guruvayurappan Nagar Extension

Sri Guruvayurappan Nagar Extension guideline value

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

How the guideline value of Sri Guruvayurappan Nagar Extension has changed

The guideline value for Sri Guruvayurappan Nagar Extension has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012. However, it then decreased to Rs 603 per sq.ft in 2017. The 2023 revision set the value at Rs 900 per sq.ft, and the most recent revision in 2024 raised it to Rs 990 per sq.ft. Notably, there are no figures for this street in the 2002 and 2003 revisions.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it rose by 10%. The change from 2012 to 2017 was a decrease of 33%, and from 2007 to 2012, there was a substantial increase of 260%. Overall, from 2007 to 2024, the guideline value has increased by 296%.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,400 per sq.ft. The median value is Rs 990 per sq.ft, which is the same as the current value for Sri Guruvayurappan Nagar Extension.

• Sri Iswaryam Nagar: Rs 990 per sq.ft (2024)
• Sri Iyyappa Nagar: Rs 990 per sq.ft (2024)
• Sri Devaki Nagar: Rs 2,150 per sq.ft (2024)
• Sri Kutty Vinayagar Nagar Extension: Rs 1,320 per sq.ft (2024)
• Srimathi Neelambal Nagar: Rs 990 per sq.ft (2024)
• Sri Vidhyalakshmi Avenue: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Guruvayurappan Nagar Extension

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, making the total fees together Rs 89,100. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Guruvayurappan Nagar Extension?

The Sri Guruvayurappan Nagar Extension falls under 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 is a crucial factor when buying or selling property in Manancheri. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are transparent and comply with regulatory requirements.

Frequently asked questions

What is the current guideline value of Sri Guruvayurappan Nagar Extension?

The current guideline value of Sri Guruvayurappan Nagar Extension 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, reflecting an overall increase of 296% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300, and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office is responsible for property registrations in this area?

The Kunrathur Sub Registrar Office is responsible for property registrations in Sri Guruvayurappan Nagar Extension, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sri Guruvayurappan Nagar Extension?

The land classification for Sri Guruvayurappan Nagar Extension is Residential Class I Type - I, indicating its suitability for residential development.