Guideline Value for GOVINDSAMY 2ND CROSS STREET

Govindsamy 2nd Cross Street guideline value

The current guideline value of Govindsamy 2nd Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Govindsamy 2nd Cross Street has changed

The guideline value of Govindsamy 2nd Cross Street has experienced several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49% over six years. The most recent revision in 2024 further increased the guideline value to Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 67%. The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Govindsamy 2nd Cross Street's 2024 figure above that median.

• Govindsamy 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Govindsamy 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Govindsamy Main Street: Rs 2,800 per sq.ft (2024)
• Govindsamy Street: Rs 2,800 per sq.ft (2024)
• Govindsamy Street-Anna Street Joint Street: Rs 2,800 per sq.ft (2024)
• Govindsamy Street - Sarangapani Street Joint: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Govindsamy 2nd Cross 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, bringing the total to 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 detailed calculations.

Which Sub Registrar Office covers Govindsamy 2nd Cross Street?

The Sub Registrar Office that covers Govindsamy 2nd Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential components of the overall transaction costs. Buyers should be aware of these values to ensure compliance with local regulations and to avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value of Govindsamy 2nd Cross Street?

The current guideline value of Govindsamy 2nd Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

What were the previous guideline values for this street?

The guideline values for Govindsamy 2nd Cross Street were Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2023.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 67%, moving from Rs 1,675 per sq.ft to Rs 2,800 per sq.ft.

What is the registration office for Govindsamy 2nd Cross Street?

The registration office for Govindsamy 2nd Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty for properties in Govindsamy 2nd Cross Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000.