Guideline Value for Govindaraj 1-st St (Near Gandhi Road)

Govindaraj 1-st St (Near Gandhi Road) guideline value

The current guideline value of Govindaraj 1-st St (Near Gandhi Road) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Govindaraj 1-st St (Near Gandhi Road) has changed

The guideline value for Govindaraj 1-st St has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. This represents a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median of Rs 3,300 per sq.ft. The guideline value of Govindaraj 1-st St (Near Gandhi Road) is below this median.

• Govindaraj 2-nd St (Near Gandhi Road): Rs 2,200 per sq.ft (2024)
• Govindarajan Cross Street: Rs 4,400 per sq.ft (2024)
• Govindarajan Street: Rs 5,500 per sq.ft (2024)
• Govindarao Street: Rs 2,200 per sq.ft (2024)
• Gokul Nagar: Rs 2,200 per sq.ft (2024)
• G.S.T. Road: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Govindaraj 1-st St (Near Gandhi Road)

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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Govindaraj 1-st St (Near Gandhi Road)?

The Sub Registrar Office covering Govindaraj 1-st St (Near Gandhi Road) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tambaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for calculating the necessary fees. It is essential for all parties involved to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Govindaraj 1-st St?

The current guideline value of Govindaraj 1-st St (Near Gandhi Road) 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Govindaraj 1-st St?

Govindaraj 1-st St is classified as Residential Class I Type - II.

Where can I find the registration office for this area?

The registration office for Govindaraj 1-st St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

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, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.