Guideline Value for Govindaraj Nagar

Govindaraj Nagar guideline value

The current guideline value of Govindaraj Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024. This area is located in Moulivakkam village and falls under the Kunrathur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Govindaraj Nagar has changed

The guideline value for Govindaraj Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 300 per sq.ft, which increased to Rs 955 per sq.ft in 2007. Following this, the value rose significantly to Rs 2,200 per sq.ft in 2012, but then decreased to Rs 1,474 per sq.ft in 2017. The value was revised to Rs 2,200 per sq.ft again in 2023, and currently stands at Rs 2,450 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, there was an increase of 11%. Notably, the overall change from 2003 to 2024 reflects a substantial increase of 717%.

Guideline values in Moulivakkam

In Moulivakkam, there are 44 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,000 to Rs 3,900 per sq.ft. The median value for these streets is Rs 2,450 per sq.ft, which is the same as the current value for Govindaraj Nagar.

• Gangai Amman Koil Street: Rs 2,450 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 2,450 per sq.ft (2024)
• Jeevan Nagar: Rs 2,450 per sq.ft (2024)
• Jothi Nagar: Rs 2,450 per sq.ft (2024)
• Kamakshi / Rajalingam Nagar: Rs 2,450 per sq.ft (2024)
• Dhanalakshmi Nagar Extension: Rs 2,450 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 2,450 per sq.ft, the total guideline value would be Rs 24,50,000. The stamp duty at 7% would amount to Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, bringing the total to Rs 2,20,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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, 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 Moulivakkam

The guideline value plays a crucial role in the registration of property transactions in Moulivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling a property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, making it important for both buyers and sellers to be aware of the current guideline value.

Frequently asked questions

What is the current guideline value of Govindaraj Nagar?

The current guideline value of Govindaraj Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 300 per sq.ft in 2003 to Rs 2,450 per sq.ft in 2024, reflecting an overall increase of 717% over this period.

What is the registration office for Govindaraj Nagar?

The registration office for Govindaraj Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated in Govindaraj Nagar?

Stamp duty in Govindaraj Nagar is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7% of the guideline value.

What are the other streets in Moulivakkam with the same guideline value?

Other streets in Moulivakkam with the same guideline value of Rs 2,450 per sq.ft include Gangai Amman Koil Street, Jayalakshmi Nagar, Jeevan Nagar, Jothi Nagar, Kamakshi / Rajalingam Nagar, and Dhanalakshmi Nagar Extension.