Guideline Value for Goverthan Singh Street

Goverthan Singh Street guideline value

The current guideline value of Goverthan Singh Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Goverthan Singh Street has changed

The guideline value for Goverthan Singh Street has seen several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was set at Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

In summary, the guideline value for Goverthan Singh Street went from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. This increase reflects the current market conditions and adjustments made by the registration department.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Goverthan Singh Street's 2024 figure below that median.

• Gopalapuram 8th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 7th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 6th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 5th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 4th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 3rd Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Goverthan Singh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total fees to Rs 7,83,000. Please note that 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 Goverthan Singh Street?

The Sub Registrar Office that covers Goverthan Singh Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor when registering property transactions in Mylapore Part 1. It serves as the basis for calculating stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate fees are collected by the registration department. Buyers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Goverthan Singh Street?

The current guideline value of Goverthan Singh Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Goverthan Singh Street was Rs 8,000 per sq.ft in 2023 and increased to Rs 8,700 per sq.ft in 2024, reflecting a change of +9%. There are no figures for this street in the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Goverthan Singh Street?

Goverthan Singh Street is classified as Residential Class I Type - III, indicating its primary use for residential purposes.

What are the stamp duty and registration fees for property in Goverthan Singh Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 7,83,000.

Which Sub Registrar Office covers Goverthan Singh Street?

The Chennai Central Joint I Sub Registrar Office covers Goverthan Singh Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.