Guideline Value for GOVINDASAMY NAGAR 6TH STREET

Govindasamy Nagar 6th Street guideline value

The current guideline value of Govindasamy Nagar 6th 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 it falls under the Residential Class III Type - I land classification.

How the guideline value of Govindasamy Nagar 6th Street has changed

Over the years, the guideline value for Govindasamy Nagar 6th Street has seen significant changes. The earliest recorded figure is from 2002, where the guideline value was Rs 266 per sq.ft. This increased to Rs 500 per sq.ft in 2003, marking an increase of 88%. In 2007, the value jumped to Rs 800 per sq.ft, a rise of 60%. The value then surged to Rs 2,500 per sq.ft in 2012, reflecting a substantial increase of 213%. However, between 2012 and 2017, the value decreased by 33% to Rs 1,675 per sq.ft. The next revision in 2023 saw the value rise significantly to Rs 2,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,800 per sq.ft, marking an increase of 12% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 953%. Notably, there are no figures available for the years between these revisions for this street.

Guideline values in Perungudi

In Perungudi, there are a total of 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Govindasamy Nagar 6th Street's current guideline value is below this median.

• Govindasamy Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 4th 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 6th 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. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that 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 details.

Which Sub Registrar Office covers Govindasamy Nagar 6th Street?

The Sub Registrar Office that covers Govindasamy Nagar 6th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when buying or selling property in Perungudi. It serves as a reference point for determining the minimum value at which property transactions can be registered. This value is crucial for calculating the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Govindasamy Nagar 6th Street?

The current guideline value of Govindasamy Nagar 6th 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 significantly from Rs 266 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 953%.

What is the land classification for Govindasamy Nagar 6th Street?

Govindasamy Nagar 6th Street falls under the Residential Class III Type - I land classification.

Which Sub Registrar Office covers this street?

The Neelankarai Sub Registrar Office covers Govindasamy Nagar 6th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or sale price.