Guideline Value for Govindarajulu Street (S.V.Nagar)

Govindarajulu Street (S.V.Nagar) guideline value

The current guideline value of Govindarajulu Street (S.V.Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Govindarajulu Street (S.V.Nagar) has changed

The guideline value of Govindarajulu Street (S.V.Nagar) has seen several revisions over the years. The earliest recorded value was Rs 400 per sq.ft in 2007, which increased significantly to Rs 1,500 per sq.ft by 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017 before rising again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

Between the revisions, the changes in guideline values are notable. From 2007 to 2012, there was a substantial increase of 275%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Govindarajulu Street (S.V.Nagar) has a guideline value below this median.

• Govindan Street (Ganapathi Nagar): Rs 1,400 per sq.ft (2024)
• Govindan Street (Banu Nagar): Rs 2,200 per sq.ft (2024)
• Govindan Street (1st Ward): Rs 1,400 per sq.ft (2024)
• Govindan Main Road (Palaniappa Nagar): Rs 2,200 per sq.ft (2024)
• Govindhan pillali Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Govindhan Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Govindarajulu Street (S.V.Nagar)

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

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Govindarajulu Street (S.V.Nagar)?

The Sub Registrar Office that covers Govindarajulu Street (S.V.Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value is used to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. Buyers and sellers should be aware of the current guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Govindarajulu Street (S.V.Nagar)?

The current guideline value of Govindarajulu Street (S.V.Nagar) 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 significantly from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, with fluctuations in between, including a decrease in 2017.

What is the land classification for Govindarajulu Street (S.V.Nagar)?

Govindarajulu Street (S.V.Nagar) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Govindarajulu Street (S.V.Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees payable during the sale or purchase of property. It serves as a reference point for assessing the value of the property being registered.