Guideline Value for GOVINDA ACHARI STREET

Govinda Achari Street guideline value

The current guideline value of Govinda Achari Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Govinda Achari Street has changed

The guideline value for Govinda Achari Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, there was a significant decrease to Rs 3,350 per sq.ft in the 2017 revision. Following this, the value rose sharply to Rs 5,000 per sq.ft in 2023, and further increased by 10% to reach the current rate of Rs 5,500 per sq.ft in the 2024 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 206%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Purasaivakkam

Purasaivakkam village has a total of 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which is equal to the current value of Govinda Achari Street.

• Govinda Naicken Street: Rs 5,500 per sq.ft (2024)
• Gopala Menon Street: Rs 6,500 per sq.ft (2024)
• Grama Street: Rs 5,500 per sq.ft (2024)
• Haji Mohammed Abdul Hafeez Abbab Sahib Street: Rs 4,900 per sq.ft (2024)
• Hanumantharayan Koil 1st Lane: Rs 4,400 per sq.ft (2024)
• Hanumantharayan Koil Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Govinda Achari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 more details.

Which Sub Registrar Office covers Govinda Achari Street?

The Sub Registrar Office that covers Govinda Achari Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the minimum value of a property, which is essential for calculating stamp duty and registration fees during the transaction process.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is important for both the buyer and the seller. It provides a standardized measure that can be referenced by all parties involved in the property transaction.

Frequently asked questions

What is the current guideline value of Govinda Achari Street?

The current guideline value of Govinda Achari Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What are the stamp duty and registration fees for properties in Govinda Achari Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office is responsible for Govinda Achari Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, is responsible for Govinda Achari Street.

What is the land classification of Govinda Achari Street?

Govinda Achari Street is classified as Residential Class III Type - I, indicating its suitability for residential development.