Guideline Value for GOVINDSAMY MAIN STREET

Govindsamy Main Street guideline value

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

How the guideline value of Govindsamy Main Street has changed

The guideline value for Govindsamy Main Street has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was 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%. The most recent revision in 2024 saw the guideline value further increase to Rs 2,800 per sq.ft, reflecting a change of 12% from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for Govindsamy Main Street. Overall, from 2017 to 2024, the guideline value has increased by 67%.

Guideline values in Sholinganallur - 1

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

• Govindsamy 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Govindsamy Street: Rs 2,800 per sq.ft (2024)
• Govindsamy 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Govindsamy Street-Anna Street Joint Street: Rs 2,800 per sq.ft (2024)
• Govindsamy 1st Cross 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 Main 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, totaling Rs 2,52,000. Note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindsamy Main Street?

The Sub Registrar Office that covers Govindsamy Main 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 inquiries.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

During registration, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Govindsamy Main Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 67% over this period.

What is the land classification for Govindsamy Main Street?

Govindsamy Main Street is classified as Residential Class II Type - II under the Neelankarai SRO.

What are the other streets with the same guideline value?

Other streets in Sholinganallur - 1 that share the same guideline value of Rs 2,800 per sq.ft include Govindsamy 3rd Cross Street, Govindsamy Street, Govindsamy 2nd Cross Street, Govindsamy Street-Anna Street Joint Street, Govindsamy 1st Cross Street, and Govindsamy Street - Sarangapani Street Joint.

Where can I find the Neelankarai Sub Registrar Office?

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