Guideline Value for Govindan Salai

Govindan Salai guideline value

The current guideline value of Govindan Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Govindan Salai has changed

The guideline value for Govindan Salai has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, an increase from Rs 2,010 per sq.ft in the 2017 revision. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease from the previous value.

From 2012 to 2017, the guideline value decreased by 33%, and then increased by 64% from 2017 to 2024. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value for this street. The register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. Govindan Salai's 2024 guideline value is below this median.

• Gopal Avenue: Rs 4,400 per sq.ft (2024)
• Gomathi Nagar - Thiruppavai Street: Rs 3,300 per sq.ft (2024)
• Gokulam Colony: Rs 3,300 per sq.ft (2024)
• Hospital Road: Rs 4,400 per sq.ft (2024)
• Ganga Street: Rs 3,300 per sq.ft (2024)
• Indhira 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Govindan Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindan Salai?

The Sub Registrar Office covering Govindan Salai is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It helps determine the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is in compliance with local regulations. This value serves as a reference point for both buyers and sellers during negotiations.

Frequently asked questions

What is the current guideline value of Govindan Salai?

The current guideline value of Govindan Salai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then to Rs 3,300 per sq.ft in 2024. This represents a decrease from 2012 to 2017, followed by a significant increase from 2017 to 2024.

What is the land classification of Govindan Salai?

Govindan Salai is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Govindan Salai?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,97,000.

Which office do I need to visit for property registration in Govindan Salai?

The Virugambakkam Sub Registrar Office is responsible for property registration in Govindan Salai. It is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.