Guideline Value for Godhandan Nagar

Godhandan Nagar guideline value

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

How the guideline value of Godhandan Nagar has changed

The guideline value for Godhandan Nagar has seen several revisions over the years. The earliest recorded figure is from 2003, where the guideline 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 value then surged dramatically to Rs 3,200 per sq.ft in 2012, representing a 220% increase. However, the value remained unchanged at Rs 3,200 per sq.ft until the next revision in 2023.

In 2023, the guideline value was revised to Rs 3,520 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2003 to 2024, the guideline value has increased by 410%. It is important to note that the register has no figures for the years 2002 and 2017 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, and Godhandan Nagar's current value of Rs 3,520 per sq.ft is above this median.

• Godhandan Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Godhandan Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Godhandan Nagar 3rd Street: 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

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, while the registration fee at 2% would be Rs 70,400. Together, the total cost for stamp duty and registration fee would be 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. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Godhandan Nagar?

The Sub Registrar Office that covers Godhandan Nagar 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 details.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees applicable on the property. When a property is sold, the buyer must pay these fees based on the guideline value or the sale price, whichever is higher.

Additionally, the guideline value serves as a benchmark for property transactions in the area. It ensures that the property is registered at a value that reflects the current market conditions, thus providing transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Godhandan Nagar?

The current guideline value of Godhandan Nagar 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 an overall increase of 410% over this period.

What are the stamp duty and registration fees for property in Godhandan Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 35,20,000. The stamp duty is Rs 2,46,400, and the registration fee is Rs 70,400, totaling Rs 3,16,800.

Which Sub Registrar Office covers Godhandan Nagar?

The Pallavaram Sub Registrar Office covers Godhandan Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Godhandan Nagar?

The land classification for Godhandan Nagar is Residential Class I Type - I, indicating its suitability for residential development.