Guideline Value for GOVINDRAJ NAGAR

Govindraj Nagar guideline value

The current guideline value of Govindraj Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of Govindraj Nagar has changed

The guideline value for Govindraj Nagar has undergone several revisions over the years. The earliest recorded revision was in 2007, when the value was set at Rs 250 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 1,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 1,500 per sq.ft, but in 2024, it increased to Rs 1,600 per sq.ft, representing a 7% increase from the previous year.

Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 540%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, making Govindraj Nagar's 2024 figure of Rs 1,600 per sq.ft below the median.

• G.P.S Nagar: Rs 1,300 per sq.ft (2024)
• Gramani Street (Thanthankuppam): Rs 1,600 per sq.ft (2024)
• Gurusamy Nagar: Rs 1,600 per sq.ft (2024)
• Gopala Krishna Nagar Extension: Rs 2,100 per sq.ft (2024)
• Gopala Krishna Nagar: Rs 2,100 per sq.ft (2024)
• Haji Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Govindraj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total charges to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindraj Nagar?

The Sub Registrar Office that covers Govindraj Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor in property transactions in Korattur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is essential for both buyers and sellers. It is advisable to check the latest guideline values before proceeding with any transaction to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Govindraj Nagar?

The current guideline value of Govindraj Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, showing a total increase of 540% over the years.

What is the registration office for Govindraj Nagar?

The registration office for Govindraj Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for a property in Govindraj Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Are there other streets with guideline values in Korattur?

Yes, there are several other streets in Korattur with varying guideline values. For example, G.P.S Nagar has a guideline value of Rs 1,300 per sq.ft, while Gopala Krishna Nagar has a value of Rs 2,100 per sq.ft.