Guideline Value for GOVINDASAMI NAICKEN STREET

Govindasami Naicken Street guideline value

The current guideline value of Govindasami Naicken Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Govindasami Naicken Street has changed

The guideline value for Govindasami Naicken Street has seen several revisions over the years. In 2002, the guideline value was Rs 470 per sq.ft. This increased to Rs 516 per sq.ft in 2003, marking a 10% rise. Following this, the value rose by 36% to reach Rs 700 per sq.ft in 2007. The 2012 revision saw a significant increase, bringing the value to Rs 3,000 per sq.ft, which was a 329% increase from the previous figure.

From 2012 to 2017, the guideline value decreased by 33% to Rs 2,010 per sq.ft. However, there was a substantial increase of 49% from 2017 to 2023, bringing the value to Rs 3,000 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 3,200 per sq.ft, reflecting a 7% increase from the previous year.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Govindasami Naicken Street's 2024 figure above this median.

• Govindapuram Street: Rs 2,200 per sq.ft (2024)
• Govindapuram Hut: Rs 1,600 per sq.ft (2024)
• Govindan Street: Rs 3,800 per sq.ft (2024)
• Goutham Street: Rs 2,700 per sq.ft (2024)
• Gopal Naicken Street: Rs 3,800 per sq.ft (2024)
• Gurumurthy Garden Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Govindasami Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000. Together, these fees total Rs 2,88,000. It is important to note that the 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 Govindasami Naicken Street?

The Sub Registrar Office that covers Govindasami Naicken 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 a crucial factor in property transactions in Perambur, as it determines the minimum value at which a property can be registered. When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Ensuring that the sale price meets or exceeds the guideline value is necessary to avoid complications during the registration process.

Frequently asked questions

What is the current guideline value of Govindasami Naicken Street?

The current guideline value of Govindasami Naicken Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 470 per sq.ft in 2002 to Rs 3,200 per sq.ft in 2024, reflecting an overall increase of 581% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000, and the registration fee would be Rs 64,000, totaling Rs 2,88,000.

Which Sub Registrar Office is responsible for Govindasami Naicken Street?

The Purasaivakkam Sub Registrar Office is responsible for Govindasami Naicken Street, located at 93/1, Bricklin Road, Otteri, Chennai-600 012.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, with Govindasami Naicken Street's current value being above this median.