Guideline Value for Gothavari Street

Gothavari Street guideline value

The current guideline value of Gothavari Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village under the Tambaram Joint 1 SRO, classified as Residential Special Type - II.

How the guideline value of Gothavari Street has changed

The guideline value for Gothavari Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later reduced to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 2,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value by 10% to Rs 2,200 per sq.ft.

It is important to note that there are no figures available for Gothavari Street in the revisions of 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Gothavari Street.

• Godhataraman Street: Rs 880 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 Gothavari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gothavari Street?

The Sub Registrar Office that covers Gothavari 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 plays a crucial role in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This means that buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Gothavari Street?

The current guideline value of Gothavari Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Gothavari Street?

Gothavari Street is classified as Residential Special Type - II under the Tambaram Joint 1 SRO.

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

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

How is stamp duty calculated for properties in Gothavari Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,54,000.