Guideline Value for GOVINDAN STREET

Govindan Street guideline value

The current guideline value of Govindan Street in Perambur village, under the Purasaivakkam SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Govindan Street has changed

The guideline value of Govindan Street has seen significant changes over the years. In 2003, the value was Rs 369 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The value then surged to Rs 3,500 per sq.ft in 2012, but dropped to Rs 2,345 per sq.ft in 2017. The 2023 revision saw a rise to Rs 3,500 per sq.ft, followed by the current value of Rs 3,800 per sq.ft in 2024. Notably, there is no figure available for the year 2002 in the register for this street.

Examining the changes, the guideline value increased by 36% from 2003 to 2007, followed by a remarkable 600% rise from 2007 to 2012. However, it fell by 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and has increased by 9% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 930%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a guideline value range from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Govindan Street's 2024 value above this median.

• Govindapuram Hut: Rs 1,600 per sq.ft (2024)
• Govindapuram Street: Rs 2,200 per sq.ft (2024)
• Govindasami Naicken Street: Rs 3,200 per sq.ft (2024)
• Goutham Street: Rs 2,700 per sq.ft (2024)
• Gopal Naicken Street: Rs 3,800 per sq.ft (2024)
• Golden Complex (Mkb Nagar): Rs 4,900 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 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator to get an estimate of the fees applicable to your property transaction.

Which Sub Registrar Office covers Govindan Street?

The Sub Registrar Office that covers Govindan Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Perambur, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is crucial for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the property buying or selling process.

Frequently asked questions

What is the current guideline value of Govindan Street?

The current guideline value of Govindan Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value of Govindan Street changed over the years?

The guideline value has changed significantly, from Rs 369 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, reflecting a total increase of 930% over this period.

What is the land classification for Govindan Street?

Govindan Street falls under the Residential Class II Type - II land classification.

Where can I find the registration office for Govindan Street?

The registration office for Govindan Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Govindan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,00,000 would incur a stamp duty of Rs 2,66,000 at 7%.