Guideline Value for Govindarao Street

Govindarao Street guideline value

The current guideline value of Govindarao Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Govindarao Street has changed

Looking at the revisions over the years, the guideline value for Govindarao Street has seen several changes. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft. In 2023, the value increased to Rs 2,000 per sq.ft, and the latest 2024 revision has set it at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Govindarao Street's 2024 figure below this median.

• Govindarajan Street: Rs 5,500 per sq.ft (2024)
• Govindarajan Cross Street: Rs 4,400 per sq.ft (2024)
• Govindaraj 2-nd St (Near Gandhi Road): Rs 2,200 per sq.ft (2024)
• Govindaraj 1-st St (Near Gandhi Road): Rs 2,200 per sq.ft (2024)
• Gokul Nagar: Rs 2,200 per sq.ft (2024)
• G.S.T. Road: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Govindarao Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 more detailed calculations.

Which Sub Registrar Office covers Govindarao Street?

The Sub Registrar Office that covers Govindarao Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Tambaram. It serves as a benchmark for determining 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 will be referenced to calculate the applicable duties and fees. Buyers should be aware that the stamp duty is charged based on the higher value between the guideline value and the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Govindarao Street?

The current guideline value of Govindarao Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Govindarao Street?

Govindarao Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Govindarao Street?

The Sub Registrar Office for Govindarao Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Govindarao Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.