Guideline Value for Govindan Street (Ganapathi Nagar)

Govindan Street (Ganapathi Nagar) guideline value

The current guideline value of Govindan Street (Ganapathi Nagar) is Rs 1,400 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 Class III Type - I.

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

The guideline value for Govindan Street (Ganapathi Nagar) has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, but then saw a decrease to Rs 871 per sq.ft in 2017. Following this, the value rose to Rs 1,300 per sq.ft in 2023, and currently stands at Rs 1,400 per sq.ft as of the 2024 revision. The changes between these revisions are notable, with a +160% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and an +8% increase from 2023 to 2024.

The overall change from 2007 to 2024 is an increase of +180%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Govindan Street (Ganapathi Nagar) is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, totaling Rs 1,26,000. 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 Govindan Street (Ganapathi Nagar)?

The Sub Registrar Office that covers Govindan Street (Ganapathi 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements during property transactions. It is advisable to check the latest figures and updates from the registration department before proceeding with any property dealings.

Frequently asked questions

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

The current guideline value of Govindan Street (Ganapathi Nagar) is Rs 1,400 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 1,400 per sq.ft in 2024, reflecting an overall increase of +180% over the years.

What is the land classification of Govindan Street (Ganapathi Nagar)?

The land classification for Govindan Street (Ganapathi Nagar) is Residential Class III Type - I.

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

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

How are stamp duty and registration fees calculated for properties in Oragadam?

Stamp duty and registration fees for properties in Oragadam are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 1,26,000.