Guideline Value for Gothandan Street

Gothandan Street guideline value

The current guideline value of Gothandan Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Gothandan Street has changed

The guideline value for Gothandan Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 800 per sq.ft, which saw a significant increase to Rs 3,750 per sq.ft in the 2012 revision, marking a rise of 369%. However, this value decreased by 33% to Rs 2,512 per sq.ft in the 2017 revision. The 2023 revision brought the value up to Rs 3,750 per sq.ft, and the most recent 2024 revision set it at Rs 4,100 per sq.ft, reflecting an increase of 9% from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 413%. The changes between the revisions illustrate fluctuations in the guideline value, with the most notable being the jump from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Gothandan Street's 2024 figure below that median.

• Gothandaramapillai Garden: Rs 4,100 per sq.ft (2024)
• Gopal Street(M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Gopal Street (JPT): Rs 5,500 per sq.ft (2024)
• Govindan Street Block 62: Rs 7,700 per sq.ft (2024)
• Gopalan Street (W.M): Rs 6,000 per sq.ft (2024)
• Gopalan Street (V.P): Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gothandan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gothandan Street?

The Sub Registrar Office that covers Gothandan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value, as it affects the financial obligations during the registration process. Buyers should be aware that the stamp duty is calculated on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Gothandan Street?

The current guideline value of Gothandan Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an increase of 413% overall.

What is the land classification for Gothandan Street?

Gothandan Street is classified as Residential Class IV Type - I, indicating its zoning for residential purposes.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Gothandan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 4,100 per sq.ft, the stamp duty would be Rs 2,87,000.