Guideline Value for Govindaraj Nagar

Govindaraj Nagar guideline value

The current guideline value of Govindaraj Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is part of Mangadu -A village under the Kunrathur SRO and is classified as Residential Class II Type - I.

How the guideline value of Govindaraj Nagar has changed

The guideline value of Govindaraj Nagar has seen several revisions over the years. In 2017, the guideline value was Rs 938 per sq.ft, which increased to Rs 1,400 per sq.ft in 2023. The latest revision in 2024 raised the value to Rs 1,540 per sq.ft, marking a 10% increase from the previous year. The overall change from 2017 to 2024 is a significant increase of 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting the changes in the guideline value over the years.

Guideline values in Mangadu -A

Mangadu -A consists of 208 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Govindaraj Nagar's 2024 figure below this median.

• Hari Sai Nagar: Rs 1,870 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 1,540 per sq.ft (2024)
• Indra Nagar: Rs 2,090 per sq.ft (2024)
• Gandhi Nagar / Jeeva Nagar: Rs 1,540 per sq.ft (2024)
• EVP Sri Ram Nagar: Rs 1,870 per sq.ft (2024)
• Eswar Nagar: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Govindaraj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800. Together, the total cost would be Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govindaraj Nagar?

The Sub Registrar Office that covers Govindaraj Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor during the registration of property transactions in Mangadu -A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to price their properties competitively.

Frequently asked questions

What is the current guideline value of Govindaraj Nagar?

The current guideline value of Govindaraj Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

The guideline value has increased from Rs 938 per sq.ft in 2017 to Rs 1,540 per sq.ft in 2024, marking a total increase of 64% over the seven years.

What is the land classification for Govindaraj Nagar?

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

What are the stamp duty and registration fees for properties in Govindaraj Nagar?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, a property valued at Rs 15,40,000 would incur a total of Rs 1,38,600 in fees.

Where can I find the Sub Registrar Office for Govindaraj Nagar?

The Kunrathur Sub Registrar Office covers Govindaraj Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.