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Guideline Value

Corporate

Guideline Value for GOVINDAN NAGAR(MAIN ROAD)

₹4400/sq.ft.

The guideline value for Govindan Nagar(main Road) 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(main Road)

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Govindan Nagar(Main Road) guideline value

The current guideline value of Govindan Nagar(Main Road) is Rs 4,400 per sq.ft, effective from 1 July 2024. This area 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(Main Road) has changed

The guideline value for Govindan Nagar(Main Road) has seen several revisions over the years. In 2007, the guideline value was Rs 2,042 per sq.ft. This increased to Rs 4,000 per sq.ft in 2012, marking a significant rise of 96%. However, in 2017, the value decreased to Rs 2,680 per sq.ft, which was a drop of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and most recently, in 2024, it has been set at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 115%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street in the register.

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, with a median value of Rs 3,300 per sq.ft. The guideline value for Govindan Nagar(Main Road) is above this median.

Stamp duty and registration fee for property in Govindan Nagar(Main Road)

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. Together, the total cost for these fees would be 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 the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Govindan Nagar(Main Road)?

The Sub Registrar Office that covers Govindan Nagar(Main Road) 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 plays a crucial role in the registration process of property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it can influence the overall cost of the transaction. Buyers should consider this value when negotiating prices to ensure compliance with local regulations and to avoid any potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Govindan Nagar(Main Road)?

The current guideline value of Govindan Nagar(Main Road) 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, which is an increase of 115% over the years.

What is the land classification of Govindan Nagar(Main Road)?

Govindan Nagar(Main Road) is classified as Residential Class I Type - II.

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.

How is the stamp duty calculated for properties in Govindan Nagar(Main Road)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000.