Guideline Value for GOVINDASWAMY STREET

Govindaswamy Street guideline value

The current guideline value of Govindaswamy Street is Rs 1,001 per sq.ft. This street is located in Chinnasekkadu village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Govindaswamy Street has changed

The guideline value for Govindaswamy Street has undergone several revisions over the years. In 2002, the value was Rs 79 per sq.ft, which increased to Rs 92 per sq.ft in 2003, marking a 16% rise. Following this, the value saw a significant increase to Rs 200 per sq.ft in 2007, representing a 117% change. The value further rose to Rs 600 per sq.ft in 2012, showing a 200% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, which is a decline of 33%. The value then increased to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,001 per sq.ft, showing no change.

Overall, from 2002 to 2024, the guideline value has increased by 1167%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Govindaswamy Street's 2024 figure below this median.

• Jagadeesh Nagar: Rs 1,001 per sq.ft (2024)
• Jagannathan Street/ Achari Street: Rs 1,300 per sq.ft (2024)
• Kakkanpuram / Radha Nagar / Kannapiran Street / Kannapiran Koil Street: Rs 1,001 per sq.ft (2024)
• Kalaignar Karunanithi Street: Rs 1,300 per sq.ft (2024)
• Dr.A.P.J. Abdul Kalam Nagar: Rs 1,300 per sq.ft (2024)
• Kamalammal Nagar: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Govindaswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, and the registration fee at 2% would be Rs 20,020, together totaling Rs 90,090. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govindaswamy Street?

The Sub Registrar Office that covers Govindaswamy Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chinnasekkadu. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

When a property transaction occurs, the guideline value ensures that the government receives the appropriate revenue from the transaction. Buyers and sellers must be aware of this value to accurately assess the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Govindaswamy Street?

The current guideline value of Govindaswamy Street is Rs 1,001 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 79 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of 1167% over the years.

What are the stamp duty rates for properties in Govindaswamy Street?

The stamp duty for properties in Govindaswamy Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Govindaswamy Street?

Govindaswamy Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.