Guideline Value for GOVARDANAN NAGAR - Kothandapani 1st Street

GOVARDANAN NAGAR - Kothandapani 1st Street guideline value

The current guideline value of GOVARDANAN NAGAR - Kothandapani 1st 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 is classified as Residential Class III Type - II.

How the guideline value of GOVARDANAN NAGAR - Kothandapani 1st Street has changed

The guideline value for GOVARDANAN NAGAR - Kothandapani 1st Street has seen several revisions over the years. Starting from Rs 400 per sq.ft in 2007, it increased significantly to Rs 2,250 per sq.ft in 2012, marking a rise of 463%. However, it then decreased to Rs 1,507 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,250 per sq.ft in 2023, and currently stands at Rs 2,500 per sq.ft in 2024, reflecting an increase of 11% from the previous year. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, bringing it to Rs 2,250 per sq.ft. The overall change from the 2007 figure to the current 2024 figure is an increase of 525%, highlighting significant fluctuations in the guideline value over the years.

Guideline values in Nerkundram

In Nerkundram, there are 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 the village is Rs 2,200 per sq.ft, placing GOVARDANAN NAGAR - Kothandapani 1st Street above this median.

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

Stamp duty and registration fee for property in GOVARDANAN NAGAR - Kothandapani 1st 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 to Rs 2,25,000. It is important to note that 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 information.

Which Sub Registrar Office covers GOVARDANAN NAGAR - Kothandapani 1st Street?

The GOVARDANAN NAGAR - Kothandapani 1st 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 details.

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

The guideline value plays a crucial role in property transactions within Nerkundram. It is used as a basis for calculating stamp duty and registration fees when properties are 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 compared to the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring that the transaction reflects the fair valuation of the property in the eyes of the law.

Frequently asked questions

What is the current guideline value of GOVARDANAN NAGAR - Kothandapani 1st Street?

The current guideline value of GOVARDANAN NAGAR - Kothandapani 1st 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, reflecting an increase of 525% overall.

What is the registration office for GOVARDANAN NAGAR - Kothandapani 1st Street?

The registration office for GOVARDANAN NAGAR - Kothandapani 1st 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 GOVARDANAN NAGAR - Kothandapani 1st Street?

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

What are the guideline values of other streets in Nerkundram?

Other streets in Nerkundram have a guideline value of Rs 2,500 per sq.ft as of 2024. This includes GOVARDANAN NAGAR - Kothandapani 1st Cross Street, Kothandapani 2nd Cross Street, Kattapommon Street, Kothandapani 2nd Street, Gandhi Street, and Kothandapani Street.