Guideline Value for GOVA CITY

Gova City guideline value

The current guideline value of Gova City, located in Devathur village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - II.

How the guideline value of Gova City has changed

Over the years, the guideline value of Gova City has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 200 per sq.ft. The 2017 revision recorded a lower value of Rs 134 per sq.ft, marking a decrease of 33% from the previous figure. The guideline value has not been recorded for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained constant, with a total change of 0% over this period.

Guideline values in Devathur

In Devathur, there are four streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 101 to Rs 200 per sq.ft. Gova City's guideline value is above the median value of Rs 116 per sq.ft. Below are the guideline values for other streets in Devathur:

• Kalam Nagar: Rs 120 per sq.ft (2024)
• Sai Vishnu Garden: Rs 111 per sq.ft (2024)
• Sri Sai Ganesh Garden: Rs 101 per sq.ft (2024)

Stamp duty and registration fee for property in Gova City

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is calculated at 7%, resulting in Rs 14,000, while the registration fee is 2%, amounting to Rs 4,000. Therefore, the total cost for stamp duty and registration fees would be Rs 18,000. It is important to 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 Gova City?

The Sub Registrar Office that covers Gova City is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Devathur. It serves as a benchmark for determining the value of the property for stamp duty and registration fees, ensuring that these charges are based on a standardized value rather than subjective assessments.

When a property transaction occurs, the guideline value is referenced to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Gova City?

The current guideline value of Gova City is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What are the stamp duty and registration fees for property in Gova City?

For a 1,000 sq.ft plot valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which Sub Registrar Office covers Gova City?

The Madurandakam Sub Registrar Office covers Gova City, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification for Gova City?

The land classification for Gova City is Residential Class III Type - II, indicating its designation for residential use.