Guideline Value for Dr.Govindan street

Dr.Govindan street guideline value

The current guideline value of Dr.Govindan street in Chindadripet village under the Periamet SRO is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Dr.Govindan street has changed

Over the years, the guideline value of Dr.Govindan street has seen significant changes. In the 2007 revision, the value was Rs 600 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a rise of 567%. However, the value then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The 2023 revision saw a substantial increase to Rs 4,000 per sq.ft, and the most recent revision in 2024 raised it further to Rs 4,400 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 633%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO, with 2024 guideline values ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median guideline value for the village is Rs 3,300 per sq.ft, placing Dr.Govindan street's 2024 figure above this median.

• East coovam road / Street: Rs 3,800 per sq.ft (2024)
• Dharmaraja koil street: Rs 5,500 per sq.ft (2024)
• Devaraj sarang lane: Rs 3,300 per sq.ft (2024)
• Dams Road: Rs 11,000 per sq.ft (2024)
• Fire Station officials Residence: Rs 2,600 per sq.ft (2024)
• Cox street: Rs 2,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr.Govindan street?

The Sub Registrar Office that covers Dr.Govindan street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Chindadripet. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue during property transactions.

When buying or selling property, the guideline value helps establish a baseline for negotiations. Buyers should be aware that the final sale price may exceed the guideline value, and duties will be charged based on the higher amount.

Frequently asked questions

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

The current guideline value of Dr.Govindan street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 600 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024. There have been various increases and decreases in between these years, with the most recent revision showing a 10% increase from the previous year.

What is the land classification of Dr.Govindan street?

Dr.Govindan street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for Dr.Govindan street?

The registration office for Dr.Govindan street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Chindadripet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at the rate of 7%.