Guideline Value for Govindappa Naicker St (Ward-02)

Govindappa Naicker St (Ward-02) guideline value

The current guideline value for Govindappa Naicker St (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Govindappa Naicker St (Ward-02) has changed

The guideline value for Govindappa Naicker St (Ward-02) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value saw a significant increase of 49%. However, from 2012 to 2017, there was a decline of 33%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, which means that the 2024 figure for Govindappa Naicker St is below this median.

• Government High School Road (Ward-7): Rs 1,300 per sq.ft (2024)
• Govindasamy Street (Ward-23): Rs 1,300 per sq.ft (2024)
• Govindasamy st (Ward No.22): Rs 1,300 per sq.ft (2024)
• Gowri Nagar: Rs 3,000 per sq.ft (2024)
• Gowri Nagar Main Road (Ward No.24): Rs 1,300 per sq.ft (2024)
• Gowri Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Govindappa Naicker St (Ward-02)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Govindappa Naicker St (Ward-02)?

The Sub Registrar Office that covers Govindappa Naicker St (Ward-02) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find more details about your SRO, you can find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Madhavaram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value for Govindappa Naicker St (Ward-02)?

The current guideline value for Govindappa Naicker St (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Govindappa Naicker St (Ward-02)?

Govindappa Naicker St (Ward-02) is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Govindappa Naicker St (Ward-02) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.