Guideline Value for Govarthinan Nagar

Govarthinan Nagar guideline value

The current guideline value of Govarthinan Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This locality is situated in Sriperumbudur A village, under the Sriperumpudur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Govarthinan Nagar has changed

The guideline value for Govarthinan Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,000 per sq.ft. The latest revision in 2024 has maintained this value at Rs 1,000 per sq.ft, resulting in a 49% increase from the 2017 figure.

It is important to note that there are no recorded figures for this street in the revisions from 2002, 2003, 2007, and 2012. The overall change from the 2017 revision to the 2024 revision is +49%.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing Govarthinan Nagar's 2024 figure above this median.

• Govinda Mettu Street: Rs 1,200 per sq.ft (2024)
• Gothanda Nadar Nagar: Rs 1,200 per sq.ft (2024)
• Gowthami Nagar: Rs 700 per sq.ft (2024)
• Giri Nagar: Rs 700 per sq.ft (2024)
• Guberan Nagar: Rs 700 per sq.ft (2024)
• Gandhi Road: Rs 3,000 per sq.ft (2024)

Stamp duty and registration fee for property in Govarthinan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total cost for these fees to Rs 90,000. 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 details.

Which Sub Registrar Office covers Govarthinan Nagar?

The Sub Registrar Office that covers Govarthinan Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sriperumbudur A. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the transaction is recorded at a fair value.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the sale or purchase of the property.

Frequently asked questions

What is the current guideline value of Govarthinan Nagar?

The current guideline value of Govarthinan Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a 49% increase from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2024. There were no recorded figures for the revisions from 2002, 2003, 2007, and 2012.

What is the land classification for Govarthinan Nagar?

The land classification for Govarthinan Nagar is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Govarthinan Nagar?

The Sub Registrar Office for Govarthinan Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 1,000 per sq.ft would incur a total of Rs 90,000 in fees.