Guideline Value for Dr. Govindan Salai

Dr. Govindan Salai guideline value

The current guideline value of Dr. Govindan Salai is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Dr. Govindan Salai has changed

The guideline value for Dr. Govindan Salai has undergone several revisions over the years. In 2007, the guideline value was Rs 2,980 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012. However, there was a decline to Rs 4,690 per sq.ft in 2017. The value then rose significantly to Rs 7,000 per sq.ft in 2023, and most recently, it has increased to Rs 7,700 per sq.ft in 2024. The revisions for the years 2002 and 2003 have no figures listed for this street.

Notably, the changes between revisions show a substantial increase overall. From 2007 to 2012, there was a remarkable increase of 135%. However, from 2012 to 2017, the value decreased by 33%. The guideline value then surged by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 158%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 4,900 per sq.ft, making Dr. Govindan Salai's current value of Rs 7,700 per sq.ft above the median.

• Dr. Kalaingnar Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Dr. Kannu Nagar 10th Kamarajar Street: Rs 2,200 per sq.ft (2024)
• Dr. Kannu Nagar Main road (N.P): Rs 3,300 per sq.ft (2024)
• Dr. Kannu Nagar N.S.C. Bose Street: Rs 2,200 per sq.ft (2024)
• Dr. Lakshmanasamy Salai: Rs 8,800 per sq.ft (2024)
• Dr. Ambedkar Salai: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Govindan Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Govindan Salai?

The Sub Registrar Office that covers Dr. Govindan Salai is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers must be aware that the guideline value is set by the government and reflects the minimum value at which properties in the area are assessed.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair valuation, preventing undervaluation. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Dr. Govindan Salai?

The current guideline value of Dr. Govindan Salai is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 2,980 per sq.ft in 2007, Rs 7,000 in 2012, Rs 4,690 in 2017, Rs 7,000 in 2023, and Rs 7,700 in 2024.

What is the registration office for Dr. Govindan Salai?

The Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, covers Dr. Govindan Salai.

How is stamp duty calculated for properties in Dr. Govindan Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 77,00,000, the stamp duty at 7% would be Rs 5,39,000.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Dr. Govindan Salai's current value of Rs 7,700 per sq.ft being above this median.