Guideline Value for GOVINDASAMY AVENUE

Govindasamy Avenue guideline value

The current guideline value of Govindasamy Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and falls under the Residential Class IV Type - II land classification.

How the guideline value of Govindasamy Avenue has changed

The guideline value for Govindasamy Avenue has seen several revisions over the years. In 2002, the guideline value was Rs 96 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 4% rise. The value then surged significantly to Rs 400 per sq.ft in 2007, reflecting a 300% increase. By 2012, the value remained at Rs 1,200 per sq.ft, and this figure was retained in the 2023 revision. The most recent revision in 2024 saw the guideline value rise to Rs 1,320 per sq.ft, a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2017 in the register for this street. Overall, the guideline value has increased by 1275% from 2002 to 2024.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Govindasamy Avenue's 2024 figure below this median.

• Govindasamy Nagar: Rs 1,320 per sq.ft (2024)
• Govindan Street: Rs 1,320 per sq.ft (2024)
• Gopal Nagar S.Kolathur Road: Rs 1,650 per sq.ft (2024)
• Gopal Nagar Extension: Rs 1,650 per sq.ft (2024)
• Gopal Nagar Cross Street: Rs 1,650 per sq.ft (2024)
• Gopal Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Govindasamy Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govindasamy Avenue?

Govindasamy Avenue falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Govindasamy Avenue?

The current guideline value of Govindasamy Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 96 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1275%.

What is the stamp duty for property in Govindasamy Avenue?

The stamp duty for property in Govindasamy Avenue is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.

Which office handles property registrations for Govindasamy Avenue?

The Chennai South Joint I Sub Registrar Office handles property registrations for Govindasamy Avenue, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Govindasamy Avenue?

Govindasamy Avenue is classified as Residential Class IV Type - II, indicating its designated use for residential purposes.