Guideline Value for GoodWill Street

GoodWill Street guideline value

The current guideline value of GoodWill Street in Pattravakkam village, under the Konnur SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of GoodWill Street has changed

In the 2007 revision, the guideline value for GoodWill Street was Rs 500 per sq.ft. This figure increased significantly to Rs 1,400 per sq.ft in the 2012 revision, marking a rise of 180%. However, in the 2017 revision, the value dropped to Rs 938 per sq.ft, a decrease of 33%. The value then saw a substantial increase to Rs 1,400 per sq.ft in the 2023 revision, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,500 per sq.ft, which is a 7% increase from the previous year.

It is important to note that there are no figures available for GoodWill Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Pattravakkam

Pattravakkam village has a total of 34 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,900 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, which is equal to the current value of GoodWill Street.

• Govindharajan Street: Rs 1,100 per sq.ft (2024)
• Gnanamoorthi Street: Rs 2,200 per sq.ft (2024)
• Gurumoorthi Nagar: Rs 1,100 per sq.ft (2024)
• Ganamoorthi Nagar Extension & Streets & Lanes: Rs 2,200 per sq.ft (2024)
• D.T.P. Colony & Streets: Rs 2,200 per sq.ft (2024)
• Kabaleeswarar Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in GoodWill Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty, charged at 7%, would be Rs 1,05,000, while the registration fee at 2% would be Rs 30,000. Together, these fees total Rs 1,35,000. 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 precise calculations.

Which Sub Registrar Office covers GoodWill Street?

The Sub Registrar Office that covers GoodWill Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pattravakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The guideline value is regularly updated, reflecting changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of GoodWill Street?

The current guideline value of GoodWill Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 500 per sq.ft in 2007, increasing to Rs 1,400 in 2012, dropping to Rs 938 in 2017, rising again to Rs 1,400 in 2023, and finally reaching Rs 1,500 in 2024.

What is the land classification for GoodWill Street?

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

What are the stamp duty and registration fees for properties in GoodWill Street?

The stamp duty for properties in GoodWill Street is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers GoodWill Street?

The Konnur Sub Registrar Office covers GoodWill Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.