Guideline Value for GOVARDANAN NAGAR - Kattapommon Street

GOVARDANAN NAGAR - Kattapommon Street guideline value

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

How the guideline value of GOVARDANAN NAGAR - Kattapommon Street has changed

The guideline value for GOVARDANAN NAGAR - Kattapommon Street has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 2,250 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 1,507 per sq.ft. The subsequent revision in 2023 raised it to Rs 2,250 per sq.ft, and the most recent revision in 2024 increased it further to Rs 2,500 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

In terms of percentage changes, the guideline value increased by 463% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then saw a significant increase of 49% from 2017 to 2023. The jump from 2023 to 2024 represents an increase of 11%. Overall, from 2007 to 2024, the guideline value has risen by 525%.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing GOVARDANAN NAGAR - Kattapommon Street above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,500 per sq.ft, the 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, totaling Rs 2,25,000. 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 further calculations.

Which Sub Registrar Office covers GOVARDANAN NAGAR - Kattapommon Street?

The GOVARDANAN NAGAR - Kattapommon Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Nerkundram. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is crucial as it affects the overall costs involved in the transaction. It is important for both parties to understand that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of GOVARDANAN NAGAR - Kattapommon Street?

The current guideline value of GOVARDANAN NAGAR - Kattapommon 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 from Rs 400 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024. There were several revisions, with notable increases and decreases during specific periods.

What is the land classification for GOVARDANAN NAGAR - Kattapommon Street?

The land classification for GOVARDANAN NAGAR - Kattapommon Street is Residential Class III Type - II. This classification indicates the type of development permissible in the area.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering GOVARDANAN NAGAR - Kattapommon Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What factors influence the guideline value in Nerkundram?

The guideline value in Nerkundram is influenced by various factors, including the location, land classification, and historical revisions. The values can fluctuate based on market conditions and regulatory changes.