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 2 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 a revision from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, marking an increase of 9%. Prior to the 2023 revision, the register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft. The figures for the earlier years are not available in the register for this street, indicating that no changes were recorded during those periods.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline 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 would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

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 2

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore Part 2. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

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 much has the guideline value changed recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a change of 9%.

What is the land classification of Goverthan Singh Street?

Goverthan Singh Street is classified as Residential Class I Type - III.

What are the guideline values of other streets in Mylapore Part 2?

Other streets in Mylapore Part 2 have guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft.

Where is the Sub Registrar Office located for Goverthan Singh Street?

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