Guideline Value for GOVINDARAJ STREET

Govindaraj Street guideline value

The current guideline value of Govindaraj Street in Thiruvancheri village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Govindaraj Street has changed

The guideline value for Govindaraj Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and finally, it rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,000 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value for Govindaraj Street is below this median.

• Gopalakrishnan Street: Rs 1,980 per sq.ft (2024)
• Gandhi Street: Rs 1,100 per sq.ft (2024)
• Irataimalai Srinivasan Street: Rs 1,980 per sq.ft (2024)
• Iyyanar Street: Rs 1,980 per sq.ft (2024)
• E.V.R.Street: Rs 1,980 per sq.ft (2024)
• Jaganathan Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Govindaraj Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Govindaraj Street?

The Sub Registrar Office that covers Govindaraj Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thiruvancheri. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for both buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. The registration process requires that the property be registered at the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Govindaraj Street?

The current guideline value of Govindaraj Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent being an increase from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. The value was Rs 670 per sq.ft in 2017 and Rs 1,000 per sq.ft in 2012.

What is the land classification for Govindaraj Street?

Govindaraj Street is classified as Residential Class III Type - I under the guidelines set by the Pallavaram SRO.

What are the registration fees for properties in Govindaraj Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Govindaraj Street?

The Sub Registrar Office covering Govindaraj Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more information by visiting the relevant link.