Guideline Value for GOVARDANAN NAGAR - Kothandapani 2nd Cross Street

GOVARDANAN NAGAR - Kothandapani 2nd Cross Street guideline value

The current guideline value of GOVARDANAN NAGAR - Kothandapani 2nd 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. The land classification for this area is Residential Class III Type - II.

How the guideline value of GOVARDANAN NAGAR - Kothandapani 2nd Cross Street has changed

The guideline value has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,250 per sq.ft in 2012. However, this value dropped to Rs 1,507 per sq.ft in 2017, marking a decrease of 33%. The value then rose to Rs 2,250 per sq.ft in 2023, before reaching the current value of Rs 2,500 per sq.ft in 2024, which is an increase of 11% from the previous year. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from 2007 to 2024, the guideline value has increased by 525%. The revisions show a substantial increase from Rs 400 in 2007 to Rs 2,500 in 2024, reflecting changes in the real estate landscape over the years.

Guideline values in Nerkundram

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

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

Stamp duty and registration fee for property in GOVARDANAN NAGAR - Kothandapani 2nd 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.

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

Which Sub Registrar Office covers GOVARDANAN NAGAR - Kothandapani 2nd Cross Street?

The GOVARDANAN NAGAR - Kothandapani 2nd Cross Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can 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 should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to consider the guideline value as it reflects the official valuation set by the government. This ensures that all transactions are conducted transparently and in accordance with legal requirements.

Frequently asked questions

What is the current guideline value of GOVARDANAN NAGAR - Kothandapani 2nd Cross Street?

The current guideline value of GOVARDANAN NAGAR - Kothandapani 2nd 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, reflecting an overall increase of 525% over the years.

What is the land classification for this street?

The land classification for GOVARDANAN NAGAR - Kothandapani 2nd Cross Street is Residential Class III Type - II.

Where can I find the registration office for this area?

The registration office covering GOVARDANAN NAGAR - Kothandapani 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is 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, a property with a guideline value of Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 at the 7% rate.