Guideline Value for Govindarajapuram 1st Street

Govindarajapuram 1st Street guideline value

The current guideline value of Govindarajapuram 1st Street is Rs 6,100 per sq.ft, effective from 1 July 2024. This street is located in Kottur village, under the Adayar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Govindarajapuram 1st Street has changed

The guideline value for Govindarajapuram 1st Street has undergone several revisions over the years. In 2002, the value was Rs 1,242 per sq.ft, which increased to Rs 1,339 per sq.ft in 2003. Following this, the value saw significant changes, reaching Rs 2,500 per sq.ft in 2007, then rising to Rs 5,500 per sq.ft in 2012. The value dropped back to Rs 3,685 per sq.ft in 2017, before increasing to Rs 5,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 6,100 per sq.ft.

Between the revisions, the changes were notable. From 2002 to 2003, there was an 8% increase, followed by an 87% rise from 2003 to 2007. The value surged by 120% from 2007 to 2012, but then decreased by 33% from 2012 to 2017. A significant 49% increase occurred from 2017 to 2023, and the most recent revision from 2023 to 2024 reflects an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 391%.

Guideline values in Kottur

In Kottur, there are 114 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value is Rs 6,100 per sq.ft, which is equal to the guideline value of Govindarajapuram 1st Street.

• Govindarajapuram 2nd Street: Rs 6,100 per sq.ft (2024)
• Guruvappa Nayakkan Street: Rs 6,100 per sq.ft (2024)
• Gandhi Nagar Pumping Station Road: Rs 6,100 per sq.ft (2024)
• Gandhi Nagar Cresent Park Avenue: Rs 15,400 per sq.ft (2024)
• Gandhi Nagar Canal 3rd Cross Road: Rs 8,800 per sq.ft (2024)
• Gandhi Nagar Canal 2nd Cross Road: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Govindarajapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value would be Rs 61,00,000. The stamp duty at 7% would amount to Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, resulting in a total cost of Rs 5,49,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your costs, visit the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govindarajapuram 1st Street?

The Sub Registrar Office that covers Govindarajapuram 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Kottur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value, as it affects the overall transaction costs. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the actual sale price, which can significantly impact their financial planning.

Frequently asked questions

What is the current guideline value of Govindarajapuram 1st Street?

The current guideline value of Govindarajapuram 1st Street is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,242 per sq.ft in 2002 to Rs 6,100 per sq.ft in 2024, reflecting an overall increase of 391% over this period.

What are the other streets in Kottur with the same guideline value?

Other streets in Kottur with the same guideline value of Rs 6,100 per sq.ft include Govindarajapuram 2nd Street, Guruvappa Nayakkan Street, and Gandhi Nagar Pumping Station Road.

How is the stamp duty calculated for properties in Govindarajapuram 1st Street?

Stamp duty for properties in Govindarajapuram 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office for Govindarajapuram 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.