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Guideline Value

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Guideline Value for GOVARDANAN NAGAR - Pallavan Salai

₹2500/sq.ft.

The guideline value for Govardanan Nagar - Pallavan Salai in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2500 per sq.ft, effective 1 July 2024. It was Rs 2250 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Iii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class III Type - II
History
Period Guideline Value
From 1-7-2024 ₹2500 /sq.ft.
From 1-4-2023 ₹2250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1507 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Govardanan Nagar - Pallavan Salai

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GOVARDANAN NAGAR - Pallavan Salai guideline value

The current guideline value of GOVARDANAN NAGAR - Pallavan Salai is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, with a land classification of Residential Class III Type - II.

How the guideline value of GOVARDANAN NAGAR - Pallavan Salai has changed

The guideline value for GOVARDANAN NAGAR - Pallavan Salai has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 2,250 per sq.ft in 2012. However, it then decreased to Rs 1,507 per sq.ft in 2017. The 2023 revision set the value at Rs 2,250 per sq.ft, and the latest revision in 2024 raised it to Rs 2,500 per sq.ft, marking an increase of 11% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 525%. The revisions for 2002 and 2003 do not have figures for this street in the register.

Guideline values in Nerkundram

Nerkundram has a total of 476 streets under the Virugambakkam SRO with 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, indicating that GOVARDANAN NAGAR - Pallavan Salai's 2024 figure is above this median.

Stamp duty and registration fee for property in GOVARDANAN NAGAR - Pallavan Salai

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 applicable stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers GOVARDANAN NAGAR - Pallavan Salai?

The GOVARDANAN NAGAR - Pallavan Salai area 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 information.

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

The guideline value plays a crucial role 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 registration process. Buyers should be aware that the guideline value is often used as a benchmark for property transactions.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of GOVARDANAN NAGAR - Pallavan Salai?

The current guideline value of GOVARDANAN NAGAR - Pallavan Salai 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 a total increase of 525% over this period.

What is the registration office for GOVARDANAN NAGAR - Pallavan Salai?

The registration office for GOVARDANAN NAGAR - Pallavan Salai is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty rates applicable in GOVARDANAN NAGAR - Pallavan Salai?

The stamp duty rates applicable in GOVARDANAN NAGAR - Pallavan Salai are 7% for the guideline value and 2% for the registration fee.

Where can I find more information about stamp duty and registration fees?

For more information about stamp duty and registration fees, you can use the stamp duty and registration fee calculator.