Guideline Value for GOVARDANAN NAGAR - Annai Indira Street

GOVARDANAN NAGAR - Annai Indira Street guideline value

The current guideline value for GOVARDANAN NAGAR - Annai Indira Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and falls under Residential Class III Type - II land classification.

How the guideline value of GOVARDANAN NAGAR - Annai Indira Street has changed

The guideline value for GOVARDANAN NAGAR - Annai Indira Street has seen significant changes over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased dramatically to Rs 2,250 per sq.ft in the 2012 revision. However, from 2012 to 2017, the value decreased to Rs 1,507 per sq.ft. The 2023 revision marked a notable increase to Rs 2,250 per sq.ft, and the current 2024 revision has further increased it to Rs 2,500 per sq.ft, reflecting an 11% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 525%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Nerkundram

Nerkundram has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing GOVARDANAN NAGAR - Annai Indira Street above this median.

• GOVARDANAN NAGAR - Dr.M.G.R.Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Gandhi Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Kattapommon Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Kothandapani 1st Cross Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Kothandapani 1st Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Kothandapani 2nd Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in GOVARDANAN NAGAR - Annai Indira Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the duty is charged based 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 GOVARDANAN NAGAR - Annai Indira Street?

The GOVARDANAN NAGAR - Annai Indira Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nerkundram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is registered, the authorities will assess the guideline value to calculate the applicable fees. This ensures that the transaction is recorded accurately and in accordance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for GOVARDANAN NAGAR - Annai Indira Street?

The current guideline value for GOVARDANAN NAGAR - Annai Indira Street is Rs 2,500 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 400 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024. Notably, there was a decrease from Rs 2,250 per sq.ft in 2012 to Rs 1,507 per sq.ft in 2017.

What is the land classification for GOVARDANAN NAGAR - Annai Indira Street?

The land classification for GOVARDANAN NAGAR - Annai Indira Street is Residential Class III Type - II.

Where can I find the registration office for this area?

The registration office for GOVARDANAN NAGAR - Annai Indira Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at a rate of 7%.