Guideline Value for Godhandan Nagar 2nd Street

Godhandan Nagar 2nd Street guideline value

The current guideline value of Godhandan Nagar 2nd Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Godhandan Nagar 2nd Street has changed

The guideline value for Godhandan Nagar 2nd Street has seen several revisions over the years. Starting with the 2003 revision, the value was Rs 690 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 45%. The next revision in 2012 maintained the value at Rs 3,200 per sq.ft, showing no change from the previous year. In 2023, the value remained at Rs 3,200 per sq.ft, but in 2024, it was revised to Rs 3,520 per sq.ft, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 410%. Notably, there are no figures available in the register for the years 2002 and 2017 regarding this street.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Godhandan Nagar 2nd Street's 2024 figure above this median.

• Godhandan Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Godhandan Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Godhandan Nagar: Rs 3,520 per sq.ft (2024)
• Godhandan Nagar 4th Street: Rs 3,520 per sq.ft (2024)
• Godhandan Nagar Section: Rs 3,520 per sq.ft (2024)
• Godwin Dasan Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Godhandan Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Godhandan Nagar 2nd Street?

The Sub Registrar Office that covers Godhandan Nagar 2nd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers need to be aware of this value to ensure compliance with local regulations.

When a property transaction occurs, the registration office will use the guideline value to calculate the necessary fees. It is essential for both parties to understand that the duty is charged on the higher of the guideline value or the sale price, ensuring that the correct fees are paid.

Frequently asked questions

What is the current guideline value for Godhandan Nagar 2nd Street?

The current guideline value for Godhandan Nagar 2nd Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 690 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, marking a total increase of 410% over the years.

What is the land classification for Godhandan Nagar 2nd Street?

Godhandan Nagar 2nd Street is classified as Residential Class I Type - I.

Where can I find the registration office for Godhandan Nagar 2nd Street?

The registration office for Godhandan Nagar 2nd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 3,16,800.