Guideline Value for GOVINDASAMY NAGAR

Govindasamy Nagar guideline value

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

How the guideline value of Govindasamy Nagar has changed

The guideline value for Govindasamy Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 71 per sq.ft. This increased to Rs 100 per sq.ft in 2003, marking a rise of 41%. The value then jumped to Rs 400 per sq.ft in 2007, reflecting a substantial increase of 300%. By 2012, the value remained at Rs 1,200 per sq.ft, which was a 200% increase from the previous revision. There is no figure available for the year 2017.

In 2023, the guideline value was revised to Rs 1,200 per sq.ft. However, in the most recent revision in 2024, the guideline value increased to Rs 1,320 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,759%.

Guideline values in Pallikaranai

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

• Govindasamy Avenue: 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 Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the 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?

The Sub Registrar Office that covers Govindasamy Nagar is 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 information.

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

The guideline value plays a crucial role in property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When a property is registered, the guideline value is assessed to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Govindasamy Nagar?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 71 per sq.ft to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1,759%.

What is the land classification for Govindasamy Nagar?

Govindasamy Nagar is classified as Residential Class IV Type - II.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, which is higher than the current guideline value of Govindasamy Nagar.

Where can I find the Sub Registrar Office for Govindasamy Nagar?

The Sub Registrar Office for Govindasamy Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.