Guideline Value for Govindarajulu Lane

Govindarajulu Lane guideline value

The current guideline value of Govindarajulu Lane is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Govindarajulu Lane has changed

The guideline value for Govindarajulu Lane has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,005 per sq.ft. The 2023 revision increased the value to Rs 1,500 per sq.ft, marking a significant rise of 49% from the 2017 figure. The latest revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, reflecting a 7% increase from 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Govindarajulu Lane. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Siruvallur

In Siruvallur village, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, placing Govindarajulu Lane's 2024 figure below this median.

• Govindarajulu Street: Rs 1,900 per sq.ft (2024)
• Govardhan Doss Street: Rs 1,900 per sq.ft (2024)
• Gowtham Chand Lane: Rs 1,900 per sq.ft (2024)
• Hot Kins Road: Rs 1,900 per sq.ft (2024)
• Jagannatha Colony (Foxen St.): Rs 2,800 per sq.ft (2024)
• Francis Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Govindarajulu Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty, charged at 7%, would be Rs 1,12,000, and the registration fee, charged at 2%, would be Rs 32,000. This brings the total cost for stamp duty and registration to Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govindarajulu Lane?

The Sub Registrar Office that covers Govindarajulu Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Siruvallur. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must take this value into account to ensure compliance with local regulations and to avoid any potential legal issues.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Govindarajulu Lane?

The current guideline value of Govindarajulu Lane is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. It increased from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, but decreased from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017.

What is the land classification for Govindarajulu Lane?

The land classification for Govindarajulu Lane is Residential Class IV Type - I.

What is the registration office for Govindarajulu Lane?

The registration office for Govindarajulu Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Govindarajulu Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000, leading to a stamp duty of Rs 1,12,000.