Guideline Value for Godhataraman Street

Godhataraman Street guideline value

The current guideline value of Godhataraman Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Godhataraman Street has changed

The guideline value for Godhataraman Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 880 per sq.ft, an increase from Rs 800 per sq.ft in 2023. This reflects a 10% rise in the guideline value from the previous year. Prior to this, in 2017, the guideline value was Rs 536 per sq.ft, which means there was a significant increase of 49% leading up to the 2023 revision. The 2012 revision also recorded a value of Rs 800 per sq.ft, indicating a decrease of 33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figure for Godhataraman Street for the years 2002, 2003, and 2007.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. Godhataraman Street's 2024 guideline value is below this median.

• Gothavari Street: Rs 2,200 per sq.ft (2024)
• Gayathri Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Gayathri Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Gayathiri Colony ( Gayathiri Nagar ): Rs 2,200 per sq.ft (2024)
• Gangai Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Godhataraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that 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 Godhataraman Street?

The Sub Registrar Office covering Godhataraman Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the official value of the property. This value is used to calculate the stamp duty and registration fees, which are essential components of the property transaction process.

Frequently asked questions

What is the current guideline value of Godhataraman Street?

The current guideline value of Godhataraman Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024, an increase of 10%. It was Rs 536 per sq.ft in 2017, showing a 49% increase leading to 2023.

What is the land classification for Godhataraman Street?

Godhataraman Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Godhataraman Street?

The Sub Registrar Office for Godhataraman Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property in Godhataraman Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600.