Guideline Value for GOVINDSAMY STREET-ANNA STREET JOINT STREET

Govindsamy Street-Anna Street Joint Street guideline value

The current guideline value of Govindsamy Street-Anna Street Joint 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 Street-Anna Street Joint Street has changed

In the 2017 revision, the guideline value 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 increase further to Rs 2,800 per sq.ft, reflecting a change of 12% from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 67%. This notable rise highlights the changes in property valuation over the years.

Guideline values in Sholinganallur - 1

In the Sholinganallur - 1 village, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, 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, positioning Govindsamy Street-Anna Street Joint Street above this median.

• Govindsamy Street: Rs 2,800 per sq.ft (2024)
• Govindsamy Street - Sarangapani Street Joint: Rs 2,800 per sq.ft (2024)
• Govindsamy Main Street: Rs 2,800 per sq.ft (2024)
• Govindsamy 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Govt. High School Street: Rs 4,400 per sq.ft (2024)
• Govindsamy 2nd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Govindsamy Street-Anna Street Joint 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 guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Govindsamy Street-Anna Street Joint Street?

The Govindsamy Street-Anna Street Joint Street falls under the jurisdiction of 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 more details.

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

The guideline value is a crucial factor in property transactions within Sholinganallur - 1. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value can influence the overall cost of property transactions.

When registering a property, the guideline value serves as a benchmark for calculating the necessary fees. It ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being bought or sold.

Frequently asked questions

What is the current guideline value for Govindsamy Street-Anna Street Joint Street?

The current guideline value for Govindsamy Street-Anna Street Joint 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 increased from Rs 1,675 per sq.ft in 2017 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 67% over this period.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Govindsamy Street-Anna Street Joint Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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

What are the other streets with the same guideline value in Sholinganallur - 1?

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