Guideline Value for Govindan Main Road (Palaniappa Nagar)

Govindan Main Road (Palaniappa Nagar) guideline value

The current guideline value of Govindan Main Road (Palaniappa Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Govindan Main Road (Palaniappa Nagar) has changed

Over the years, the guideline value of Govindan Main Road (Palaniappa Nagar) has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 500 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, reflecting a 33% drop. Following this, the value rose to Rs 2,000 per sq.ft in 2023, and most recently, it has been set at Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with the median being Rs 2,200 per sq.ft. The guideline value for Govindan Main Road (Palaniappa Nagar) aligns with this median.

• Govindan Street (1st Ward): Rs 1,400 per sq.ft (2024)
• Govindan Street (Banu Nagar): Rs 2,200 per sq.ft (2024)
• Govindan Street (Ganapathi Nagar): Rs 1,400 per sq.ft (2024)
• Govindarajulu Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Gopal (swamy) Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Gopal Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Govindan Main Road (Palaniappa Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Govindan Main Road (Palaniappa Nagar)?

The Sub Registrar Office that covers Govindan Main Road (Palaniappa Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When selling property, the guideline value can influence the sale price, as it provides a reference point for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to ensure a transparent and fair transaction process.

Frequently asked questions

What is the current guideline value of Govindan Main Road (Palaniappa Nagar)?

The current guideline value of Govindan Main Road (Palaniappa Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 500 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340%.

What is the land classification for Govindan Main Road (Palaniappa Nagar)?

Govindan Main Road (Palaniappa Nagar) is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Govindan Main Road (Palaniappa Nagar) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is the stamp duty calculated on property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.