Guideline Value for GOVINDAN ROAD

Govindan Road guideline value

The current guideline value of Govindan Road is Rs 12,100 per sq.ft, effective from 1 July 2024. This road is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - II.

How the guideline value of Govindan Road has changed

The guideline value for Govindan Road has seen significant changes over the years. In 2002, the guideline value was Rs 912 per sq.ft. It increased to Rs 1,012 per sq.ft in 2003, marking an increase of 11%. The value further rose to Rs 1,500 per sq.ft in 2007, which was a substantial increase of 48%. In 2012, it remained at Rs 11,000 per sq.ft, showing no figure for this street in the register for that year. The subsequent revision in 2017 saw the value rise to Rs 7,370 per sq.ft, a notable increase of 49% from the previous figure. In 2023, the guideline value increased to Rs 11,000 per sq.ft, and finally, in 2024, it reached Rs 12,100 per sq.ft, reflecting a 10% increase from the previous year.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value for Govindan Road is above this median.

• Gokulam Colony: Rs 8,800 per sq.ft (2024)
• Hanumar Koil Street: Rs 8,800 per sq.ft (2024)
• Hospital Road Anna Street: Rs 7,700 per sq.ft (2024)
• Indira Gandhi Street Appavoo Nagar: Rs 7,700 per sq.ft (2024)
• Gandhi Street Western Side Easwaran Koil Street East To West: Rs 6,600 per sq.ft (2024)
• Gandhi Street 2 Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Govindan Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value amounts to Rs 1,21,00,000. The stamp duty, charged at 7%, would be Rs 8,47,000, while the registration fee at 2% would be Rs 2,42,000. Therefore, the total amount for stamp duty and registration fee would be Rs 10,89,000. Duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govindan Road?

The Sub Registrar Office that covers Govindan Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for any property transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Govindan Road?

The current guideline value of Govindan Road is Rs 12,100 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 912 per sq.ft in 2002 to Rs 12,100 per sq.ft in 2024, marking an overall increase of 1227% over the years.

What is the land classification for Govindan Road?

Govindan Road is classified as Mixed Special Type - II, indicating its diverse usage potential within the area.

What are the stamp duty and registration fees for properties in Govindan Road?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 1,21,00,000, the total fees would amount to Rs 10,89,000.

Where is the Sub Registrar Office for Govindan Road located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35, and it covers Govindan Road.