Guideline Value for Govindan Street Block 62

Govindan Street Block 62 guideline value

The current guideline value for Govindan Street Block 62 is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, with a land classification of Mixed Type - II.

How the guideline value of Govindan Street Block 62 has changed

The guideline value for Govindan Street Block 62 has undergone several revisions over the years. In 2007, the value was Rs 2,980 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012, marking a significant rise of 135%. However, between 2012 and 2017, the value decreased to Rs 4,690 per sq.ft, reflecting a decline of 33%. The value then saw a substantial increase to Rs 7,000 per sq.ft in 2023, which was a 49% rise. The latest revision in 2024 brought the value to Rs 7,700 per sq.ft, a 10% increase from the previous year.

The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Govindan Street Block 62's 2024 figure above that median.

• Govindasamy Street (JPT): Rs 4,900 per sq.ft (2024)
• Govindasamy Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Gothandaramapillai Garden: Rs 4,100 per sq.ft (2024)
• Gothandan Street: Rs 4,100 per sq.ft (2024)
• Gopal Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Gopal Street (JPT): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Govindan Street Block 62

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees together to Rs 6,93,000. 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 further calculations.

Which Sub Registrar Office covers Govindan Street Block 62?

The Sub Registrar Office that covers Govindan Street Block 62 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the transaction is accurately reflected in official records and that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value for Govindan Street Block 62?

The current guideline value for Govindan Street Block 62 is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,980 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 158% over the years.

What is the land classification for Govindan Street Block 62?

The land classification for Govindan Street Block 62 is Mixed Type - II.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 77,00,000 would incur a stamp duty of Rs 5,39,000 and a registration fee of Rs 1,54,000.