Guideline Value for GOVINDAN NAGAR 6TH STREET

Govindan Nagar 6th Street guideline value

The current guideline value of Govindan Nagar 6th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class I Type - II.

How the guideline value of Govindan Nagar 6th Street has changed

The guideline value for Govindan Nagar 6th Street has seen several revisions over the years. The 2007 revision set the value at Rs 2,042 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017. From 2017 to 2023, the value rose sharply by 49% to Rs 4,000 per sq.ft, and the most recent revision in 2024 marked another increase of 10%, bringing the current value to Rs 4,400 per sq.ft.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, 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 value for these streets is Rs 3,300 per sq.ft, placing Govindan Nagar 6th Street's 2024 figure above this median.

• Govindan Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Govindan Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Govindan Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Govindan Nagar (Main Road): Rs 4,400 per sq.ft (2024)
• Govindan Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Govindan Nagar 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Govindan Nagar 6th 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, totaling Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govindan Nagar 6th Street?

The Sub Registrar Office that covers Govindan Nagar 6th 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 details.

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

The guideline value is a crucial factor in property transactions in Palavakkam, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property, the guideline value ensures that the transaction is registered at a fair price according to the local regulations.

Frequently asked questions

What is the current guideline value of Govindan Nagar 6th Street?

The current guideline value of Govindan Nagar 6th 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 a total increase of 115% over the years.

What is the land classification for Govindan Nagar 6th Street?

Govindan Nagar 6th Street is classified as Residential Class I Type - II.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Govindan Nagar 6th Street?

The Neelankarai Sub Registrar Office handles the registration for Govindan Nagar 6th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.