Guideline Value for Govindaraj Nagar

Govindaraj Nagar guideline value

The current guideline value of Govindaraj Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is located in Porur village and falls under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Govindaraj Nagar has changed

The guideline value for Govindaraj Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 236 per sq.ft. This figure increased to Rs 500 per sq.ft in 2003, marking a 112% rise. By 2007, the value further increased to Rs 750 per sq.ft, which was a 50% increase from the previous revision. The value rose dramatically to Rs 3,600 per sq.ft in 2012, reflecting a 380% increase. However, it decreased to Rs 2,412 per sq.ft in 2017, showing a decline of 33% from the previous figure.

In 2023, the guideline value was Rs 3,600 per sq.ft, which was a 49% increase from the 2017 revision. The most recent revision in 2024 set the guideline value at Rs 3,960 per sq.ft, representing a 10% increase from the previous year. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, which is equal to the current guideline value of Govindaraj Nagar.

• Gokul Garden: Rs 4,950 per sq.ft (2024)
• Hospital Road: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue & Nagar: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue Main Road: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 9th Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 8th Street 2nd Lane: Rs 3,520 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 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, making the total cost Rs 3,56,400. 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. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately and fairly.

When a property is registered, the guideline value is used to calculate the applicable duties. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Govindaraj Nagar?

The current guideline value of Govindaraj Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 236 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 1578% over this period.

What are the other streets in Porur with their guideline values?

Other streets in Porur include Gokul Garden at Rs 4,950 per sq.ft, Hospital Road at Rs 3,520 per sq.ft, and several others at Rs 3,520 per sq.ft as well.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a plot of 1,000 sq.ft, the total cost would be Rs 3,56,400.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it handles registrations for Govindaraj Nagar.