Guideline Value for GOVIND NAGAR, SINGARAVELAN SALAI 10TH CROSS STREET

Govind Nagar, Singaravelan Salai 10th Cross Street guideline value

The current guideline value for Govind Nagar, Singaravelan Salai 10th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Govind Nagar, Singaravelan Salai 10th Cross Street has changed

The guideline value for Govind Nagar, Singaravelan Salai 10th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the 2024 figure for Govind Nagar, Singaravelan Salai 10th Cross Street above that median.

• Habiba Street: Rs 1,700 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,700 per sq.ft (2024)
• Iswaran Koil Street: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar 1st Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Govind Nagar, Singaravelan Salai 10th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Govind Nagar, Singaravelan Salai 10th Cross Street?

The Sub Registrar Office that covers Govind Nagar, Singaravelan Salai 10th Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Neelankarai, as it determines the minimum value for registration purposes. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved.

It is essential for buyers and sellers to be familiar with the guideline value in their area, as it can affect the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Govind Nagar, Singaravelan Salai 10th Cross Street?

The current guideline value of Govind Nagar, Singaravelan Salai 10th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Govind Nagar, Singaravelan Salai 10th Cross Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Govind Nagar, Singaravelan Salai 10th Cross Street is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.