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Guideline Value

Corporate

Guideline Value for GOVINDAN NAGAR 5TH STREET

₹4400/sq.ft.

The guideline value for Govindan Nagar 5th 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 N/A
From 1-4-2002 To 31-3-2003 N/A
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 5th Street

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Govindan Nagar 5th Street guideline value

The current guideline value of Govindan Nagar 5th 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 5th Street has changed

The guideline value for Govindan Nagar 5th Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 2,042 per sq.ft. This figure increased significantly to Rs 4,000 per sq.ft in 2012, marking a 96% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value surged again to Rs 4,000 per sq.ft in 2023, and subsequently reached Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 115%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values 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, positioning Govindan Nagar 5th Street's 2024 figure above this median.

Stamp duty and registration fee for property in Govindan Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to 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 also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Govindan Nagar 5th Street?

The Sub Registrar Office that covers Govindan Nagar 5th 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 crucial factor when registering property in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price. The registration fees and stamp duty are calculated based on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Govindan Nagar 5th Street?

The current guideline value of Govindan Nagar 5th 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 from Rs 2,042 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 115% over the years.

What are the stamp duty and registration fees for properties in Govindan Nagar 5th Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers this area?

The Neelankarai Sub Registrar Office covers Govindan Nagar 5th Street, 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 for streets in Palavakkam is Rs 3,300 per sq.ft, which is below the current guideline value of Govindan Nagar 5th Street.