Guideline Value

Corporate

Guideline Value for Govindaraja Nagar

₹2750/sq.ft.

The guideline value for Govindaraja Nagar in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹161 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹147 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Govindaraja Nagar

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Govindaraja Nagar guideline value

The current guideline value of Govindaraja Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Govindaraja Nagar has changed

The guideline value of Govindaraja Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 147 per sq.ft, which increased to Rs 161 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and then it jumped to Rs 2,500 per sq.ft in 2012. However, in 2017, the value decreased to Rs 1,675 per sq.ft. The guideline value then rose again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft as per the 2024 revision.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. Between 2017 and 2023, there was a notable increase of 49%. The value decreased by 33% from 2012 to 2017, while a substantial increase of 525% was recorded from 2007 to 2012. Additionally, from 2003 to 2007, the value rose by 148%, and there was a 10% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1,771%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing Govindaraja Nagar's 2024 figure below this median.

Stamp duty and registration fee for property in Govindaraja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Govindaraja Nagar?

The Sub Registrar Office that covers Govindaraja Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated based on an official valuation.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Govindaraja Nagar?

The current guideline value of Govindaraja Nagar is Rs 2,750 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 147 per sq.ft in 2002 and reaching Rs 2,750 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Govindaraja Nagar?

Govindaraja Nagar is classified as Residential Class IV Type - I according to the land classification standards.

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

The Sub Registrar Office for Govindaraja Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Govindaraja Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500.