Guideline Value for GOVARDANAN NAGAR - Kumaran Street

GOVARDANAN NAGAR - Kumaran Street guideline value

The current guideline value for GOVARDANAN NAGAR - Kumaran 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 - Kumaran Street has changed

The guideline value for GOVARDANAN NAGAR - Kumaran Street has seen significant changes over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 85 per sq.ft. This value increased to Rs 94 per sq.ft in 2003, marking an 11% rise. By 2007, the value jumped dramatically to Rs 400 per sq.ft, reflecting a 326% increase. In 2012, the value rose further to Rs 2,250 per sq.ft, which was a substantial increase of 463% from the previous revision.

From 2012 to 2017, however, the guideline value decreased to Rs 1,507 per sq.ft, showing a decline of 33%. The value then increased again to Rs 2,250 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,500 per sq.ft, marking an 11% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 2,841%.

Guideline values in Nerkundram

Nerkundram village has a total of 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 in this area is Rs 2,200 per sq.ft, placing GOVARDANAN NAGAR - Kumaran Street above the median.

• GOVARDANAN NAGAR - Kothandapani Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Pallavan Salai: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Kothandapani 2nd Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Vanchinathan Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - Kothandapani 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• GOVARDANAN NAGAR - V.O.C. Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in GOVARDANAN NAGAR - Kumaran 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, bringing the total to 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 information.

Which Sub Registrar Office covers GOVARDANAN NAGAR - Kumaran Street?

The GOVARDANAN NAGAR - Kumaran 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 the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to ensure that the transaction reflects the current market conditions. This helps maintain transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value for GOVARDANAN NAGAR - Kumaran Street?

The current guideline value for GOVARDANAN NAGAR - Kumaran 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 from Rs 85 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, showing significant growth over the years.

What is the stamp duty for properties in GOVARDANAN NAGAR - Kumaran Street?

The stamp duty for properties in GOVARDANAN NAGAR - Kumaran Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the values reflect current market conditions.