Guideline Value for Govindarajpuram

Govindarajpuram guideline value

The current guideline value of Govindarajpuram, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Govindarajpuram has changed

Over the years, the guideline value of Govindarajpuram has seen several revisions. In 2002, the value was Rs 86 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. The value then rose dramatically to Rs 1,500 per sq.ft in 2012, followed by a decrease to Rs 1,005 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 1,500 per sq.ft, indicating no change from the previous year.

To summarize the changes: from 2002 to 2007, there was an increase of 365%; from 2007 to 2012, the value increased by 275%; however, from 2012 to 2017, it decreased by 33%. The value then increased by 49% from 2017 to 2023, and remained unchanged from 2023 to 2024.

Guideline values in Nandhivaram

Nandhivaram village features 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value is Rs 1,500 per sq.ft, which is also the current guideline value for Govindarajpuram.

• Govindarajpuram Extn: Rs 1,500 per sq.ft (2024)
• G.S.T. Road: Rs 3,500 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 per sq.ft (2024)
• Gandhi Street: Rs 1,500 per sq.ft (2024)
• Gandhi Nagar 1 to 3 Streets: Rs 1,500 per sq.ft (2024)
• Ganapathy Nagar Extn.: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Govindarajpuram

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Govindarajpuram?

The Sub Registrar Office that covers Govindarajpuram is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Nandhivaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and ensures that both parties are aware of the value set by the authorities. This value is particularly important for calculating the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Govindarajpuram?

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

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 86 per sq.ft in 2002 to Rs 1,500 per sq.ft in the most recent 2024 revision. Notably, there was a significant increase of 1644% from 2002 to 2024.

What are the other guideline values in Nandhivaram?

In Nandhivaram, the guideline values range from Rs 1,000 to Rs 3,500 per sq.ft, with the median value being Rs 1,500 per sq.ft. Other streets in Nandhivaram also have varying rates, with some streets like G.S.T. Road valued at Rs 3,500 per sq.ft.

How is the stamp duty calculated in Govindarajpuram?

Stamp duty in Govindarajpuram is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a plot valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000.

Where can I find the Sub Registrar Office for Govindarajpuram?

The Sub Registrar Office for Govindarajpuram is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find more information by visiting the appropriate link.