Guideline Value for GOVINDHAN NAGAR

Govindhan Nagar guideline value

The current guideline value of Govindhan Nagar, located in Jelandianpettai village under the Chennai South Joint I SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Govindhan Nagar has changed

The guideline value for Govindhan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 to 2024 revisions, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Govindhan Nagar's 2024 figure is below that median.

• Grama Mayana Salai: Rs 1,320 per sq.ft (2024)
• Gothavari Street: Rs 1,320 per sq.ft (2024)
• G.M.Nagar: Rs 2,750 per sq.ft (2024)
• House Of Palisade By Dac: Rs 4,000 per sq.ft (2024)
• Indira Gandhi Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Govindhan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be 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 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 information.

Which Sub Registrar Office covers Govindhan Nagar?

The Sub Registrar Office that covers Govindhan 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 further assistance.

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

The guideline value is a critical factor when registering property transactions in Jelandianpettai. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it can impact the overall costs associated with the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Govindhan Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Govindhan Nagar?

Govindhan Nagar is classified as Residential Class IV Type - II, which indicates its use for residential purposes.

Where can I find the registration office for Govindhan Nagar?

The registration office for Govindhan 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.

How is stamp duty calculated in Govindhan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.