Guideline Value for Govinda Singh Street

Govinda Singh Street guideline value

The current guideline value of Govinda Singh Street is Rs 4,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet Sub Registrar Office (SRO) and is classified as Residential Class II Type - II.

How the guideline value of Govinda Singh Street has changed

Over the years, the guideline value of Govinda Singh Street has seen significant changes. The earliest recorded revision is from 2007, where the value was Rs 600 per sq.ft. This increased dramatically to Rs 4,500 per sq.ft in 2012, marking a rise of 650%. However, it then dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. From 2017 to 2023, the value surged to Rs 4,500 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 4,800 per sq.ft, which is a 7% increase from the previous year.

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

Guideline values in Vepery

Govinda Singh Street's guideline value of Rs 4,800 per sq.ft is in line with the median value for the 290 streets in Vepery under the Periamet SRO, which ranges from Rs 2,200 to Rs 22,000 per sq.ft. The median for these streets is also Rs 4,800 per sq.ft.

• Govinda Singh Lane: Rs 4,800 per sq.ft (2024)
• Govindaraj Street: Rs 4,800 per sq.ft (2024)
• Govinda Naick 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 Singh 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, these fees would total Rs 4,32,000. 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 Govinda Singh Street?

The Sub Registrar Office that covers Govinda Singh 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 a crucial factor during the registration of property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property. Buyers and sellers should be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Govinda Singh Street?

The current guideline value of Govinda Singh 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, marking an overall increase of 700%.

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

For a property valued at Rs 48,00,000, the stamp duty would be Rs 3,36,000 and the registration fee would be Rs 96,000, totaling Rs 4,32,000.

Which Sub Registrar Office covers Govinda Singh Street?

The Periamet Sub Registrar Office covers Govinda Singh Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Govinda Singh Street?

Govinda Singh Street is classified as Residential Class II Type - II, indicating its designation for residential purposes.