Guideline Value for Godhavari Street

Godhavari Street guideline value

The current guideline value of Godhavari Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Godhavari Street has changed

The guideline value for Godhavari Street has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which was later revised to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then further to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Specifically, the rise from 2017 to 2023 was notable, with a 49% increase during that period, followed by the 10% increase from 2023 to 2024.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Godhavari Street's 2024 value above this median.

• Gomathi Nagar: Rs 2,750 per sq.ft (2024)
• Gomathi Nagar Yamuna Street: Rs 2,750 per sq.ft (2024)
• Gomathi Street: Rs 2,750 per sq.ft (2024)
• Gopalraw street: Rs 1,650 per sq.ft (2024)
• G.D. Naidu Street: Rs 2,750 per sq.ft (2024)
• G.D. Naidu 1st cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Godhavari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Godhavari Street?

The Sub Registrar Office that covers Godhavari 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate taxes based on the property's value as determined by the guideline register.

Frequently asked questions

What is the current guideline value of Godhavari Street?

The current guideline value of Godhavari Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Godhavari Street?

Godhavari Street is classified as Residential Class I Type - II under the Tambaram Joint 1 SRO.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Godhavari Street located?

The Sub Registrar Office covering Godhavari Street is located at No.26, Mes Road, East Tambaram, Chennai-600059.