Guideline Value for GOVARDANAN NAGAR - Kothandapani Street

GOVARDANAN NAGAR - Kothandapani Street guideline value

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

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

Over the years, the guideline value for GOVARDANAN NAGAR - Kothandapani Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 400 per sq.ft, which then increased to Rs 2,250 per sq.ft in 2012, marking a substantial rise of 463%. However, this value decreased by 33% to Rs 1,507 per sq.ft in 2017. The subsequent revisions saw an increase, with the 2023 revision setting the value at Rs 2,250 per sq.ft, and the latest 2024 revision raising it further to Rs 2,500 per sq.ft, reflecting an increase of 11% from the previous year.

It is important to note that the guideline values for the years 2002 and 2003 are not available for this street. Overall, from the 2007 revision to the current 2024 revision, there has been a remarkable increase of 525% in the guideline value.

Guideline values in Nerkundram

Nerkundram village comprises 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,200 per sq.ft, placing GOVARDANAN NAGAR - Kothandapani Street above this median.

• GOVARDANAN NAGAR - Kothandapani 2nd Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Kumaran Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Kothandapani 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Pallavan Salai: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Kothandapani 1st Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Vanchinathan Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in GOVARDANAN NAGAR - Kothandapani 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, resulting in a total cost of Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers GOVARDANAN NAGAR - Kothandapani Street?

The GOVARDANAN NAGAR - Kothandapani Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Nerkundram, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

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

The current guideline value of GOVARDANAN NAGAR - Kothandapani 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 increased significantly from Rs 400 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 525%.

What is the registration office for this street?

The registration office covering GOVARDANAN NAGAR - Kothandapani 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. 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%.

What are the guideline values for other streets in Nerkundram?

Other streets in Nerkundram also have a guideline value of Rs 2,500 per sq.ft as of 2024, including GOVARDANAN NAGAR - Kothandapani 2nd Street, GOVARDANAN NAGAR - Kumaran Street, and others.