Guideline Value for GOVINDA NAICKEN STREET

Govinda Naicken Street guideline value

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

How the guideline value of Govinda Naicken Street has changed

The guideline value of Govinda Naicken Street has undergone several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. The value rose again to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as per the 2024 revision. The register has no figures for the years 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The jump from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, which is the same as the current guideline value for Govinda Naicken Street.

• Govinda Achari 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 Naicken 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 be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govinda Naicken Street?

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

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

The guideline value plays a crucial role during the registration of property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is assessed to ensure that the correct fees are applied. Buyers and sellers should be aware of this value as it directly impacts the costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Govinda Naicken Street?

The current guideline value of Govinda Naicken 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, showing an overall increase of 206% over the years.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, which is the same as the current value for Govinda Naicken Street.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

Where is the Sub Registrar Office for Govinda Naicken Street located?

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