Guideline Value for Govindan Street (Banu Nagar)

Govindan Street (Banu Nagar) guideline value

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

How the guideline value of Govindan Street (Banu Nagar) has changed

The guideline value for Govindan Street (Banu Nagar) has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 figure of Rs 1,340 per sq.ft. The value remained the same in 2023 at Rs 2,000 per sq.ft, before increasing to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value for Govindan Street (Banu Nagar).

• Govindan Street (1st Ward): Rs 1,400 per sq.ft (2024)
• Govindan Street (Ganapathi Nagar): Rs 1,400 per sq.ft (2024)
• Govindan Main Road (Palaniappa Nagar): Rs 2,200 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 Street (Banu Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be 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 higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Govindan Street (Banu Nagar)?

The Sub Registrar Office that covers Govindan Street (Banu Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Govindan Street (Banu Nagar)?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, with various changes in between, including a decrease in 2017 and an increase in 2023.

What is the land classification for Govindan Street (Banu Nagar)?

The land classification for Govindan Street (Banu Nagar) is Residential Special Type - II.

Where can I find the Sub Registrar Office for Govindan Street (Banu Nagar)?

The Sub Registrar Office for Govindan Street (Banu Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Govindan Street (Banu Nagar)?

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