Guideline Value for Govindaraja nagar

Govindaraja nagar guideline value

The current guideline value of Govindaraja nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. It is located in Poonthamallee village under the Poonamallee SRO, classified as Residential Class II Type - I.

How the guideline value of Govindaraja nagar has changed

The guideline value for Govindaraja nagar has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, this value decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. In 2023, the value was revised to Rs 2,000 per sq.ft, and it further increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Govindaraja nagar.

• Gopal nagar: Rs 2,200 per sq.ft (2024)
• Gopalapuram: Rs 2,200 per sq.ft (2024)
• Ganga Nagar M.P.C Street: Rs 2,740 per sq.ft (2024)
• Ganganagar Main Street: Rs 2,740 per sq.ft (2024)
• Ganganagar Kalinger Karunanethi Street: Rs 2,740 per sq.ft (2024)
• Ganga nagar: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Govindaraja nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Govindaraja nagar?

The Sub Registrar Office that covers Govindaraja nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Govindaraja nagar?

The current guideline value of Govindaraja nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What are the other streets in Poonthamallee with similar guideline values?

Other streets in Poonthamallee with a guideline value of Rs 2,200 per sq.ft include Gopal nagar and Gopalapuram. Other streets have varying values, with some reaching Rs 2,740 per sq.ft.

What fees are associated with buying property in Govindaraja nagar?

When buying property in Govindaraja nagar, you will incur stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Govindaraja nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.