Guideline Value for GOVARDANAN NAGAR - Kothandapani 1st Cross Street

GOVARDANAN NAGAR - Kothandapani 1st Cross Street guideline value

The current guideline value for GOVARDANAN NAGAR - Kothandapani 1st Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class III Type - II.

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

The guideline value for GOVARDANAN NAGAR - Kothandapani 1st Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 2,250 per sq.ft in 2012. However, there was a decrease to Rs 1,507 per sq.ft in 2017. The subsequent 2023 revision raised it to Rs 2,250 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 2,500 per sq.ft.

Between these revisions, the changes were notable. From 2007 to 2012, the value increased by 463%. The value then decreased by 33% from 2012 to 2017. Following this, there was a substantial increase of 49% from 2017 to 2023, and the latest revision from 2023 to 2024 shows 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 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 - Kothandapani 1st Cross Street above this median.

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

Stamp duty and registration fee for property in GOVARDANAN NAGAR - Kothandapani 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The GOVARDANAN NAGAR - Kothandapani 1st Cross Street falls under the jurisdiction of 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 plays a crucial role in the registration process of property transactions in Nerkundram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is a standard reference that helps ensure that the transaction is recorded accurately and fairly.

When a property is sold, the guideline value can affect the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can impact the total expenses involved in the purchase.

Frequently asked questions

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

The current guideline value for GOVARDANAN NAGAR - Kothandapani 1st Cross 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 from Rs 400 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 525% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty for properties in GOVARDANAN NAGAR - Kothandapani 1st Cross Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office registers property transactions in GOVARDANAN NAGAR - Kothandapani 1st Cross Street?

The Virugambakkam Sub Registrar Office registers property transactions for GOVARDANAN NAGAR - Kothandapani 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Nerkundram?

The median guideline value for streets in Nerkundram is Rs 2,200 per sq.ft, with GOVARDANAN NAGAR - Kothandapani 1st Cross Street's value being above this median.