Guideline Value for Govindaraj Street

Govindaraj Street guideline value

The current guideline value of Govindaraj Street is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Periyapanancheri village, under the Pammal SRO, and is classified as Residential Class III Type - I.

How the guideline value of Govindaraj Street has changed

In the 2017 revision, the guideline value was Rs 603 per sq.ft. This figure increased to Rs 900 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 990 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register does not contain figures for the years 2002, 2003, 2007, and 2012 for Govindaraj Street.

Guideline values in Periyapanancheri

In Periyapanancheri, there are 33 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 990 to Rs 4,925 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which means that Govindaraj Street's 2024 figure is below this median.

• Govinthammal Street: Rs 990 per sq.ft (2024)
• Gopal Street: Rs 1,650 per sq.ft (2024)
• Golden Avenue: Rs 1,320 per sq.ft (2024)
• G.T.Krishnan Avenue Annexe: Rs 1,650 per sq.ft (2024)
• Gandhi Street: Rs 2,200 per sq.ft (2024)
• Indira Nagar (ward 2): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Govindaraj Street

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. Please note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Govindaraj Street?

The Sub Registrar Office that covers Govindaraj Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Periyapanancheri

The guideline value is an essential factor during the registration of property transactions in Periyapanancheri. It determines the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in assessing the fair value of the property and ensures transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Govindaraj Street?

The current guideline value of Govindaraj Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 603 per sq.ft in 2017 to Rs 900 per sq.ft in 2023, and then to Rs 990 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

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

Other streets in Periyapanancheri include Govinthammal Street at Rs 990 per sq.ft, Gopal Street at Rs 1,650 per sq.ft, and Gandhi Street at Rs 2,200 per sq.ft, among others.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. It is the office that covers Govindaraj Street.

How is stamp duty calculated for properties in Govindaraj Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at 7%.