Guideline Value for Govindarajapuram 2nd Street

Govindarajapuram 2nd Street guideline value

The current guideline value of Govindarajapuram 2nd Street is Rs 6,100 per sq.ft, effective from 1 July 2024. This street is located in Kottur village under the Adayar SRO, classified as Residential Class III Type - I.

How the guideline value of Govindarajapuram 2nd Street has changed

The guideline value for Govindarajapuram 2nd Street has seen several revisions over the years. The earliest recorded value was Rs 1,325 per sq.ft in 2003, which increased to Rs 2,500 per sq.ft in 2007. Following this, the value surged to Rs 5,500 per sq.ft in 2012, but then dropped to Rs 3,685 per sq.ft in 2017. The value rose again to Rs 5,500 per sq.ft in 2023, and currently stands at Rs 6,100 per sq.ft as of the 2024 revision.

Between the revisions, the most significant increases occurred from 2003 to 2007 (+89%) and from 2012 to 2017 (-33%). The value also increased by 49% from 2017 to 2023 and by 11% from 2023 to 2024. The overall increase from 2003 to 2024 is +360%. The register has no figure for this street in 2002.

Guideline values in Kottur

In Kottur, there are 114 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value is Rs 6,100 per sq.ft, which is equal to the current value of Govindarajapuram 2nd Street.

• Govindarajapuram 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value amounts to Rs 61,00,000. The stamp duty at 7% would be Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, bringing the total fees together to Rs 5,49,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindarajapuram 2nd Street?

The Sub Registrar Office that covers Govindarajapuram 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

When buying or selling property in Kottur, the guideline value serves as a reference point for determining the stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction.

At the time of registration, the guideline value is used to calculate the applicable fees, ensuring that the transaction is in line with the official valuation set by the Registration Department. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Govindarajapuram 2nd Street?

The current guideline value of Govindarajapuram 2nd 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 significantly from Rs 1,325 per sq.ft in 2003 to the current Rs 6,100 per sq.ft in 2024, marking an overall increase of 360% over this period.

What are the stamp duty and registration fees for property in Govindarajapuram 2nd Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 5,49,000.

Which Sub Registrar Office covers this street?

The Adayar Sub Registrar Office covers Govindarajapuram 2nd Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification of Govindarajapuram 2nd Street?

Govindarajapuram 2nd Street is classified as Residential Class III Type - I.