Guideline Value for GOVINDASAMY NAGAR 3RD STREET

Govindasamy Nagar 3rd Street guideline value

The current guideline value of Govindasamy Nagar 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Govindasamy Nagar 3rd Street has changed

The guideline value for Govindasamy Nagar 3rd Street has undergone several revisions over the years. In 2002, the guideline value was Rs 266 per sq.ft, which increased to Rs 500 per sq.ft in 2003. Following this, the value rose to Rs 800 per sq.ft in 2007, marking a significant increase of 60%. The value then saw a substantial jump to Rs 2,500 per sq.ft in 2012, representing a 213% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The value was revised to Rs 2,500 per sq.ft in 2023, and most recently, it has reached Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 953%. There are no figures available for the revisions in the years that do not have a specific value listed for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing the 2024 figure for Govindasamy Nagar 3rd Street below the median.

• Govindasamy Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Heramba Ganapathy Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Govindasamy Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty, charged at 7%, would be Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, these fees total Rs 2,52,000. It is important to 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 Nagar 3rd Street?

The Sub Registrar Office that covers Govindasamy Nagar 3rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is bought or sold, the registration process requires the payment of these fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Govindasamy Nagar 3rd Street?

The current guideline value of Govindasamy Nagar 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 266 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 953% over the years.

What is the median guideline value in Perungudi?

The median guideline value in Perungudi is Rs 3,300 per sq.ft, with Govindasamy Nagar 3rd Street's 2024 figure being below this median.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Govindasamy Nagar 3rd Street?

The Neelankarai Sub Registrar Office is responsible for registrations in Govindasamy Nagar 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.