Guideline Value for GOVINDAN STREET

Govindan Street guideline value

The current guideline value of Govindan Street, located in Manapakkam village, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Govindan Street has changed

The guideline value for Govindan Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 352 per sq.ft. This increased to Rs 392 per sq.ft in 2003, marking an 11% rise. Following this, the value saw a significant increase to Rs 850 per sq.ft in 2007, which is a 117% change. In 2012, the guideline value was recorded again at Rs 1,800 per sq.ft, reflecting a 112% increase from the previous revision.

The next revision occurred in 2017, where the value dropped to Rs 1,206 per sq.ft, showing a decrease of 33%. However, from 2017 to 2023, the guideline value increased to Rs 1,800 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year. There are no other years in the register with figures for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, placing Govindan Street's 2024 figure below that median.

• Gothavari Street: Rs 2,530 per sq.ft (2024)
• Grama Mayana Salai: Rs 1,100 per sq.ft (2024)
• Girikori Nagar: Rs 2,530 per sq.ft (2024)
• Girigori Nagar Murugathamman Koil Street: Rs 2,530 per sq.ft (2024)
• Girigori Nagar Murugathamman Koil Cross Street: Rs 2,530 per sq.ft (2024)
• Girigori Nagar Main Road: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Govindan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govindan Street?

The Sub Registrar Office that covers Govindan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Manapakkam. It determines the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Govindan Street?

The current guideline value of Govindan Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 352 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 463% over the years.

What is the land classification of Govindan Street?

Govindan Street is classified as Residential Class IV Type - II under the Chennai South Joint I SRO.

What is the registration office for Govindan Street?

The registration office for Govindan Street is the Chennai South Joint I Sub Registrar Office, located in Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties on Govindan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600.