Guideline Value for Govindappa Naicken Street Segment-1 (NSC - Annapillai Street)

Govindappa Naicken Street Segment-1 (NSC - Annapillai Street) guideline value

The current guideline value of Govindappa Naicken Street Segment-1 (NSC - Annapillai Street) is Rs 13,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Govindappa Naicken Street Segment-1 (NSC - Annapillai Street) has changed

The guideline value for Govindappa Naicken Street Segment-1 has experienced significant changes over the years. In the 2007 revision, the guideline value was Rs 5,500 per sq.ft. This increased to Rs 12,000 per sq.ft in 2012, marking a rise of 118%. However, it then decreased to Rs 8,040 per sq.ft in the 2017 revision, showing a decline of 33%. The value rebounded to Rs 12,000 per sq.ft in 2023, which was a 49% increase from the previous revision, and it further rose to the current value of Rs 13,000 per sq.ft in 2024, reflecting an 8% increase.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 136%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Rs 13,000 per sq.ft for Govindappa Naicken Street Segment-1 is above this median.

• Govindappa Naicken Street Segment-2 (Annapillai Street- Amman Koil Street): Rs 8,800 per sq.ft (2024)
• Godown Street: Rs 8,800 per sq.ft (2024)
• Hacker Jason Lane: Rs 3,800 per sq.ft (2024)
• Girikori Street: Rs 4,900 per sq.ft (2024)
• G.H. Road: Rs 6,000 per sq.ft (2024)
• George Chappel Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Govindappa Naicken Street Segment-1 (NSC - Annapillai Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,000 per sq.ft, the total guideline value amounts to Rs 1,30,00,000. The stamp duty at 7% would be Rs 9,10,000, and the registration fee at 2% would be Rs 2,60,000, bringing the total to Rs 11,70,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Govindappa Naicken Street Segment-1 (NSC - Annapillai Street)?

The Sub Registrar Office that covers Govindappa Naicken Street Segment-1 is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value for Govindappa Naicken Street Segment-1?

The current guideline value for Govindappa Naicken Street Segment-1 (NSC - Annapillai Street) is Rs 13,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased from Rs 5,500 per sq.ft to Rs 13,000 per sq.ft in 2024, which is an overall increase of 136% over the years.

What were the guideline values in the previous revisions?

The guideline values in previous revisions were Rs 5,500 per sq.ft in 2007, Rs 12,000 per sq.ft in 2012, Rs 8,040 per sq.ft in 2017, and Rs 12,000 per sq.ft in 2023.

Where can I find the Sowcarpet Sub Registrar Office?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01. This office handles registrations for properties in the area, including Govindappa Naicken Street Segment-1.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 9,10,000 at a rate of 7%.