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Guideline Value

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Guideline Value for Govindasamy Nagar 10th Street/New Kubera Nagar 1st Main Road

₹2200/sq.ft.

The guideline value for Govindasamy Nagar 10th Street/new Kubera Nagar 1st Main Road in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Govindasamy Nagar 10th Street/new Kubera Nagar 1st Main Road

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Govindasamy Nagar 10th Street/New Kubera Nagar 1st Main Road guideline value

The current guideline value of Govindasamy Nagar 10th Street/New Kubera Nagar 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Govindasamy Nagar 10th Street/New Kubera Nagar 1st Main Road has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Govindasamy Nagar 10th Street/New Kubera Nagar 1st Main Road is below this median.

Stamp duty and registration fee for property in Govindasamy Nagar 10th Street/New Kubera Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindasamy Nagar 10th Street/New Kubera Nagar 1st Main Road?

The Sub Registrar Office that covers Govindasamy Nagar 10th Street/New Kubera Nagar 1st Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is documented according to the established values set by the government.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall cost of the transaction. Buyers should ensure that they are prepared for the associated fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Govindasamy Nagar 10th Street?

The current guideline value of Govindasamy Nagar 10th Street/New Kubera Nagar 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, representing an overall increase of 64% over the seven years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for property transactions in Govindasamy Nagar 10th Street?

The Velacheri Sub Registrar Office covers Govindasamy Nagar 10th Street/New Kubera Nagar 1st Main Road. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Govindasamy Nagar 10th Street?

Govindasamy Nagar 10th Street/New Kubera Nagar 1st Main Road is classified as Residential Class II Type - I, indicating its suitability for residential development.