Guideline Value for GOTHAVARI STREET

Gothavari Street guideline value

The current guideline value of Gothavari Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Gothavari Street has changed

The guideline value for Gothavari Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,200 per sq.ft, followed by a further increase to Rs 1,320 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Gothavari Street's 2024 figure below that median.

• Govindhan Nagar: Rs 1,320 per sq.ft (2024)
• Grama Mayana Salai: Rs 1,320 per sq.ft (2024)
• G.M.Nagar: Rs 2,750 per sq.ft (2024)
• House Of Palisade By Dac: Rs 4,000 per sq.ft (2024)
• Indira Gandhi Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gothavari Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. 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 Gothavari Street?

The Sub Registrar Office that covers Gothavari Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the property registration process in Jelandianpettai. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is bought or sold, the guideline value is considered as a reference point for the transaction. The buyer must pay the stamp duty based on the higher of the guideline value or the sale price, ensuring that the registration process is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Gothavari Street?

The current guideline value of Gothavari Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Gothavari Street?

Gothavari Street is classified as Residential Class IV Type - II under the Chennai South Joint I SRO.

What are the stamp duty rates applicable in Gothavari Street?

The stamp duty rate applicable for properties in Gothavari Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Gothavari Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Gothavari Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.