Guideline Value for Govinda Naick Street

Govinda Naick Street guideline value

The current guideline value of Govinda Naick Street is Rs 4,800 per sq.ft. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class II Type - II.

How the guideline value of Govinda Naick Street has changed

The guideline value for Govinda Naick Street has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,015 per sq.ft in 2017. The value rose again to Rs 4,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 4,800 per sq.ft. The changes from 2017 to 2023 reflect a notable increase of 49%, while the jump from 2007 to 2012 marked an increase of 650%.

It is important to note that the register has no figures for Govinda Naick Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 700%.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value is Rs 4,800 per sq.ft, which is equal to the current guideline value of Govinda Naick Street.

• Govindaraj Street: Rs 4,800 per sq.ft (2024)
• Govinda Singh Lane: Rs 4,800 per sq.ft (2024)
• Govinda Singh Street: Rs 4,800 per sq.ft (2024)
• Grey Nagar 1st cross Street: Rs 2,700 per sq.ft (2024)
• Grey Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Grey Nagar 2nd cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Govinda Naick Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,800 per sq.ft, the total guideline value would be Rs 48,00,000. The stamp duty at 7% would amount to Rs 3,36,000, while the registration fee at 2% would be Rs 96,000. Together, the total fees would be Rs 4,32,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govinda Naick Street?

The Sub Registrar Office that covers Govinda Naick Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the property is registered at a fair value, reflecting the current market conditions as assessed by the Registration Department. This process is crucial for maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Govinda Naick Street?

The current guideline value of Govinda Naick Street is Rs 4,800 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 600 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, reflecting an overall increase of 700% over the years.

What are the stamp duty and registration fees for property in Govinda Naick Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,36,000 and the registration fee would be Rs 96,000, totaling Rs 4,32,000.

Which office handles registrations for Govinda Naick Street?

The Periamet Sub Registrar Office handles registrations for Govinda Naick Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value in Vepery?

The median guideline value in Vepery is Rs 4,800 per sq.ft, which is the same as the current guideline value for Govinda Naick Street.