Guideline Value for Govindaraj 2-nd St (Near Gandhi Road)

Govindaraj 2-nd St (Near Gandhi Road) guideline value

The current guideline value of Govindaraj 2-nd 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, classified as Residential Class I Type - II.

How the guideline value of Govindaraj 2-nd St (Near Gandhi Road) has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure remained the same in the subsequent revision in 2017, which saw a decrease to Rs 1,340 per sq.ft. However, from 2017 to 2023, the guideline value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from 2023.

The register has no figures for the years 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 with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Govindaraj 2-nd St (Near Gandhi Road) below this median.

• Govindaraj 1-st 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 2-nd 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 is Rs 22,00,000. The stamp duty at 7% amounts to Rs 1,54,000, while the registration fee at 2% is Rs 44,000. Together, the total cost for these fees is Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Govindaraj 2-nd St (Near Gandhi Road)?

The Sub Registrar Office that covers Govindaraj 2-nd 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 details.

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, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Govindaraj 2-nd St (Near Gandhi Road)?

The current guideline value of Govindaraj 2-nd 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 seen several changes: it was Rs 2,000 per sq.ft in 2012, decreased to Rs 1,340 per sq.ft in 2017, increased to Rs 2,000 per sq.ft in 2023, and finally set at Rs 2,200 per sq.ft in 2024.

What is the land classification for Govindaraj 2-nd St?

Govindaraj 2-nd St is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Govindaraj 2-nd St?

The registration for Govindaraj 2-nd St is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.