Guideline Value for Govindarajan Cross Street

Govindarajan Cross Street guideline value

The current guideline value of Govindarajan Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Govindarajan Cross Street has changed

The guideline value for Govindarajan Cross Street has seen several revisions over the years. In 2012, the value was Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 4,000 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Govindarajan Cross Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that Govindarajan Cross Street's 2024 figure is above the median.

• Govindaraj 2-nd St (Near Gandhi Road): Rs 2,200 per sq.ft (2024)
• Govindarajan Street: Rs 5,500 per sq.ft (2024)
• Govindaraj 1-st St (Near Gandhi Road): Rs 2,200 per sq.ft (2024)
• Govindarao Street: Rs 2,200 per sq.ft (2024)
• Gokul Nagar: Rs 2,200 per sq.ft (2024)
• G.S.T. Road: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Govindarajan Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindarajan Cross Street?

The Sub Registrar Office covering Govindarajan Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor when buying or selling property in Tambaram. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that the guideline value may differ from the sale price, and the higher of the two will be used for calculating the applicable duties.

When a property is registered, the guideline value serves as a benchmark for the transaction. This ensures that the property is valued accurately for taxation purposes, helping to maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Govindarajan Cross Street?

The current guideline value of Govindarajan Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Govindarajan Cross Street?

The land classification for Govindarajan Cross Street is Residential Special Type - II.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 3,96,000 in duties.

Which office handles property registrations for Govindarajan Cross Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Govindarajan Cross Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.