Guideline Value for GOVINDA SAMY NAGAR

Govinda Samy Nagar guideline value

The current guideline value of Govinda Samy Nagar is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Govinda Samy Nagar has changed

The guideline value for Govinda Samy Nagar has seen significant changes over the years. In the 2002 revision, the value was Rs 1,265 per sq.ft, which increased to Rs 1,405 per sq.ft in 2003. Following that, the value rose to Rs 2,365 per sq.ft in 2007, and then to Rs 7,000 per sq.ft in 2012. The 2017 revision saw a decrease to Rs 4,690 per sq.ft, before climbing to Rs 7,000 per sq.ft in 2023, and finally reaching Rs 7,700 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 509%. The revisions for the years 2012 and 2017 do not have figures for this street in the register.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which means the guideline value for Govinda Samy Nagar is below this median.

• Govt. Quarters II Class: Rs 3,300 per sq.ft (2024)
• Gowdia Madam Salai: Rs 13,200 per sq.ft (2024)
• Gopathy Narayan Chetty Lane: Rs 8,800 per sq.ft (2024)
• Gopathy Narayanan Chetty Street (Bazaar Road): Rs 8,800 per sq.ft (2024)
• Greenways Lane: Rs 17,600 per sq.ft (2024)
• Greenways Road Extension: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Govinda Samy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, leading to a total of Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govinda Samy Nagar?

The Sub Registrar Office that covers Govinda Samy Nagar is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is essential during the registration of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is crucial to be aware of the guideline value as it influences the overall cost of the transaction. The registration process requires adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Govinda Samy Nagar?

The current guideline value of Govinda Samy Nagar is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,265 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 509% over the years.

What are the stamp duty and registration fees for property in Govinda Samy Nagar?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which Sub Registrar Office covers Govinda Samy Nagar?

The Mylapore Sub Registrar Office covers Govinda Samy Nagar, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification of Govinda Samy Nagar?

Govinda Samy Nagar is classified as Residential Class IV Type - II, indicating its suitability for residential development.