Guideline Value for GOWDIA MADAM SALAI

Gowdia Madam Salai guideline value

The current guideline value of Gowdia Madam Salai is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class II Type - I.

How the guideline value of Gowdia Madam Salai has changed

The guideline value for Gowdia Madam Salai has seen significant changes over the years. In 2002, the value was Rs 1,985 per sq.ft. It increased to Rs 2,205 per sq.ft in 2003, marking an 11% rise. By 2007, the value further increased to Rs 2,365 per sq.ft, a growth of 7%. The value jumped dramatically to Rs 12,000 per sq.ft in 2012, reflecting a 407% increase. However, it decreased to Rs 8,040 per sq.ft in 2017, which was a decline of 33%. The value then rose to Rs 12,000 per sq.ft in 2023, and finally, it reached Rs 13,200 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 565%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, indicating that the 2024 value for Gowdia Madam Salai is above this median.

• Govt. Quarters II Class: Rs 3,300 per sq.ft (2024)
• Govinda Samy Nagar: Rs 7,700 per sq.ft (2024)
• Greenways Lane: Rs 17,600 per sq.ft (2024)
• Greenways Road Extension: Rs 17,600 per sq.ft (2024)
• Greenways Road(P.S. Kumaraswamy Salai: Rs 17,600 per sq.ft (2024)
• Gopathy Narayan Chetty Lane: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gowdia Madam Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gowdia Madam Salai?

The Sub Registrar Office that covers Gowdia Madam Salai is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mylapore. It serves as a benchmark for determining the minimum price at which a property can be registered. During the registration process, the guideline value is compared with the sale price, and the higher of the two is used to calculate stamp duty and registration fees.

Buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction. It is essential to consult the latest figures to ensure compliance with local regulations and to understand the financial implications of buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Gowdia Madam Salai?

The current guideline value of Gowdia Madam Salai is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,985 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 565% over this period.

What is the land classification for Gowdia Madam Salai?

Gowdia Madam Salai is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Gowdia Madam Salai?

The Sub Registrar Office for Gowdia Madam Salai is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Gowdia Madam Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 at 7%.