Guideline Value for GOVINDAPURAM HUT

Govindapuram Hut guideline value

The current guideline value of Govindapuram Hut is Rs 1,600 per sq.ft. It is located in Perambur village under the Purasaivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class V Type - I.

How the guideline value of Govindapuram Hut has changed

The guideline value for Govindapuram Hut has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 336 per sq.ft. This increased to Rs 369 per sq.ft in 2003, marking a 10% rise. In 2007, the value jumped significantly to Rs 500 per sq.ft, reflecting a 36% increase. The next revision in 2012 saw the value remain at Rs 1,500 per sq.ft, which was a decline of 33% from the previous figure.

From 2012 to 2017, the guideline value changed again, rising to Rs 1,005 per sq.ft. This was a notable increase of 200%. The value further increased to Rs 1,500 per sq.ft in 2023, a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Govindapuram Hut is below this median.

• Govindapuram Street: Rs 2,200 per sq.ft (2024)
• Govindan Street: Rs 3,800 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 Govindapuram Hut

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty, charged at 7%, would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, the total cost for stamp duty and registration would be Rs 1,44,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindapuram Hut?

The Sub Registrar Office that covers Govindapuram Hut 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. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during registration.

When a property is sold, the guideline value serves as a benchmark for valuation. It helps in calculating the necessary fees and ensures that the transaction is recorded accurately in the official registers maintained by the Sub Registrar Office.

Frequently asked questions

What is the current guideline value of Govindapuram Hut?

The current guideline value of Govindapuram Hut is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 336 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 376% over the years.

What is the land classification for Govindapuram Hut?

The land classification for Govindapuram Hut is Residential Class V Type - I, indicating its designated use for residential purposes.

Where can I find the registration office for Govindapuram Hut?

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

How is stamp duty calculated for properties in Govindapuram Hut?

Stamp duty for properties in Govindapuram Hut is calculated based on the guideline value or the sale price, whichever is higher. The current stamp duty rate is 7%, along with a registration fee of 2%.