Guideline Value

Corporate

Guideline Value for GOVINDAN NAGAR 1ST STREET

₹4400/sq.ft.

The guideline value for Govindan Nagar 1st Street in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2042 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹197 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹176 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[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 Govindan Nagar 1st Street

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Govindan Nagar 1st Street guideline value

The current guideline value of Govindan Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Govindan Nagar 1st Street has changed

The guideline value for Govindan Nagar 1st Street has undergone several revisions over the years. Starting from Rs 176 per sq.ft in 2002, it increased to Rs 197 per sq.ft in 2003, marking a change of +12%. The value then saw a significant rise to Rs 2,042 per sq.ft in 2007, which was an increase of +937%. Following this, the value was Rs 4,000 per sq.ft in 2012, reflecting a decrease of -33%. In 2017, the guideline value was Rs 2,680 per sq.ft, and from 2017 to 2023, it increased by +49% to reach Rs 4,000 per sq.ft. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is a +10% increase from the previous year.

There are no figures available for revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by +2400%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Govindan Nagar 1st Street's 2024 figure above that median.

Stamp duty and registration fee for property in Govindan Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Govindan Nagar 1st Street?

The Sub Registrar Office that covers Govindan Nagar 1st 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 Palavakkam

The guideline value is a critical factor when registering property transactions in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value to ensure accurate financial planning and compliance with local regulations. This value is updated periodically, reflecting changes in the real estate landscape.

Frequently asked questions

What is the current guideline value of Govindan Nagar 1st Street?

The current guideline value of Govindan Nagar 1st Street is Rs 4,400 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 176 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +2400% over this period.

What is the stamp duty rate for property in Govindan Nagar 1st Street?

The stamp duty rate for property in Govindan Nagar 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Palavakkam?

The median guideline value in Palavakkam for the 2024 revision is Rs 3,300 per sq.ft, with Govindan Nagar 1st Street's value being above this median.