Guideline Value for Govindarajan Street

Govindarajan Street guideline value

The current guideline value of Govindarajan Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - I.

How the guideline value of Govindarajan Street has changed

Starting from the 2002 revision, the guideline value for Govindarajan Street was Rs 556 per sq.ft. This figure increased to Rs 1,000 per sq.ft in 2003, marking an 80% rise. The 2007 revision saw a further increase to Rs 2,500 per sq.ft, which was a 150% jump from the previous figure. In 2012, the value changed to Rs 5,000 per sq.ft, reflecting a 100% increase from 2007. However, in 2017, it decreased to Rs 3,350 per sq.ft, a decline of 33% from the 2012 figure. The 2023 revision set the value at Rs 5,000 per sq.ft, which was a 49% increase from 2017. Finally, the 2024 revision established the current value at Rs 5,500 per sq.ft, representing a 10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 889%. There are no figures available for the revisions in years not listed above.

Guideline values in Tambaram

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

• Govindarajan Cross Street: Rs 4,400 per sq.ft (2024)
• Govindaraj 2-nd St (Near Gandhi Road): Rs 2,200 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for these fees Rs 4,95,000. 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 Street?

The Sub Registrar Office that covers Govindarajan 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 in the registration process when buying or selling property in Tambaram. It determines the minimum value at which the property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a value that reflects the legal standards set by the government. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Govindarajan Street?

The current guideline value of Govindarajan Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 556 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 889% over the years.

What is the land classification for Govindarajan Street?

Govindarajan Street is classified as Residential Special Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Govindarajan Street?

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

How is stamp duty calculated for properties in Govindarajan 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 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.