Guideline Value for GOVINDAN STREET

Govindan Street guideline value

The current guideline value of Govindan Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar Sub Registrar Office (SRO), and is classified as Residential Special Type - II.

How the guideline value of Govindan Street has changed

The guideline value for Govindan Street has seen several revisions over the years. In 2002, the value was Rs 2,552 per sq.ft, which increased to Rs 2,850 per sq.ft in 2003, marking a change of +12%. By 2007, the value rose significantly to Rs 4,000 per sq.ft, an increase of +40%. The next revision in 2012 saw a decrease to Rs 9,000 per sq.ft, which was a drop of -33%. In 2017, the value increased again to Rs 6,030 per sq.ft, representing a rise of +49%. The 2023 revision set the value at Rs 9,000 per sq.ft, and the most recent revision in 2024 has increased it to Rs 9,900 per sq.ft, a change of +10%.

There are no figures available for the years between the listed revisions for Govindan Street. Overall, from 2002 to 2024, the guideline value has increased by +288%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, which means that Govindan Street's 2024 figure is below this median.

• Gopal Street: Rs 7,700 per sq.ft (2024)
• Gopalakrishna Iyer Street/Gopalakrishnan Road: Rs 14,300 per sq.ft (2024)
• Guild Street: Rs 9,900 per sq.ft (2024)
• Gokulam Colony: Rs 6,600 per sq.ft (2024)
• Habibulla 1st Street (Part 1 Upto North Usman Road): Rs 17,600 per sq.ft (2024)
• Habibullah 2 Street (Part II Up To Thirumalapillai Road): Rs 17,600 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 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindan Street?

The Sub Registrar Office that covers Govindan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value is an important factor in the registration process for property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Govindan Street?

The current guideline value of Govindan Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,552 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, with various revisions in between showing both increases and decreases.

What is the land classification for Govindan Street?

Govindan Street is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

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

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 at a rate of 7%.