Guideline Value for GOVINDASAMY NAGAR 5TH STREET

Govindasamy Nagar 5th Street guideline value

The current guideline value of Govindasamy Nagar 5th 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 5th Street has changed

The guideline value for Govindasamy Nagar 5th Street has seen 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, marking an increase of 88%. The value then rose to Rs 800 per sq.ft in 2007, reflecting a 60% increase. Following this, the value jumped significantly to Rs 2,500 per sq.ft in 2012, a rise of 213%. However, it decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 saw the value increase to Rs 2,500 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 2,800 per sq.ft, a 12% increase.

Overall, from 2002 to 2024, the guideline value has increased by 953%. Notably, there are no figures available for the years not listed in the register 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 for these streets is Rs 3,300 per sq.ft, placing Govindasamy Nagar 5th Street's 2024 figure below this median.

• Govindasamy Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 1st 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 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for a detailed breakdown of fees.

Which Sub Registrar Office covers Govindasamy Nagar 5th Street?

The Sub Registrar Office that covers Govindasamy Nagar 5th 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 information.

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

The guideline value is a crucial metric used during the registration of property transactions in Perungudi. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Govindasamy Nagar 5th Street?

The current guideline value of Govindasamy Nagar 5th 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 from Rs 266 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 953% over the years.

What is the land classification for Govindasamy Nagar 5th Street?

Govindasamy Nagar 5th Street is classified as Residential Class III Type - I.

Which office handles the registration for properties in this area?

The Neelankarai Sub Registrar Office handles the registration for properties in Govindasamy Nagar 5th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Govindasamy Nagar 5th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty at 7% would be Rs 1,96,000.