Guideline Value for Govinda Street (Vivekananda Nagar)

Govinda Street (Vivekananda Nagar) guideline value

The current guideline value of Govinda Street (Vivekananda Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, which falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Govinda Street (Vivekananda Nagar) has changed

The guideline value for Govinda Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This figure changed to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

Kodungaiyur contains 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, which aligns with the current value of Govinda Street (Vivekananda Nagar).

• Govindasamy Street: Rs 2,700 per sq.ft (2024)
• Gramaniyar Garden: Rs 2,700 per sq.ft (2024)
• Harbour Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Housing Board Colony: Rs 2,700 per sq.ft (2024)
• Indira Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar Extension Part-II: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Govinda Street (Vivekananda Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govinda Street (Vivekananda Nagar)?

The Sub Registrar Office that covers Govinda Street (Vivekananda Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

It is important for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall costs involved in the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Govinda Street (Vivekananda Nagar)?

The current guideline value of Govinda Street (Vivekananda Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Govinda Street (Vivekananda Nagar)?

The land classification for Govinda Street (Vivekananda Nagar) is Residential Class I Type - I.

What is the stamp duty for property in Govinda Street (Vivekananda Nagar)?

The stamp duty for property in Govinda Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Govinda Street (Vivekananda Nagar)?

The Sub Registrar Office for Govinda Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.