Guideline Value for GOTHAVARI STREET

Gothavari Street guideline value

The current guideline value of Gothavari Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gothavari Street has changed

Over the years, the guideline value of Gothavari Street has experienced several revisions. The earliest recorded figure is from 2012, which was Rs 2,300 per sq.ft. This value decreased to Rs 1,541 per sq.ft in 2017, marking a decline of 33%. However, the value rose significantly to Rs 2,300 per sq.ft in 2023, and then further increased to the current value of Rs 2,530 per sq.ft in 2024, reflecting a 10% rise.

There are no recorded figures for Gothavari Street in the years 2002, 2003, and 2007. The overall change from the 2012 revision to the 2024 revision shows a slight increase of 10%, indicating fluctuations in the guideline value over the years.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 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 Gothavari Street.

• Govindan Street: Rs 1,980 per sq.ft (2024)
• Grama Mayana Salai: Rs 1,100 per sq.ft (2024)
• Girikori Nagar: Rs 2,530 per sq.ft (2024)
• Girigori Nagar Murugathamman Koil Street: Rs 2,530 per sq.ft (2024)
• Girigori Nagar Murugathamman Koil Cross Street: Rs 2,530 per sq.ft (2024)
• Girigori Nagar Main Road: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Gothavari Street

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, charged 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 would be Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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 details.

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

When buying or selling property in Manapakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a reference point for the transaction, ensuring that the property is registered at a value that reflects the current market conditions as set by the Registration Department.

It is essential for buyers and sellers to be aware of the guideline value to avoid discrepancies during the registration process. The guideline value must be considered alongside the sale price to determine the applicable duties and fees accurately.

Frequently asked questions

What is the current guideline value of Gothavari Street?

The current guideline value of Gothavari Street 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 from Rs 2,300 per sq.ft in 2023 to Rs 2,530 per sq.ft in 2024, a 10% increase. It was Rs 1,541 per sq.ft in 2017, and Rs 2,300 per sq.ft in 2012.

What is the land classification for Gothavari Street?

Gothavari Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find more information about stamp duty and registration fees?

More information about stamp duty and registration fees can be found using the stamp duty and registration fee calculator.

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.