Guideline Value for Govindasamy Nagar 3rd Street

Govindasamy Nagar 3rd Street guideline value

The current guideline value of Govindasamy Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Govindasamy Nagar 3rd Street has changed

The guideline value for Govindasamy Nagar 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jampuli

In Jampuli, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value for Govindasamy Nagar 3rd Street is below this median.

• Govindasamy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Govindasamy Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Govindasamy Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Govindasamy Nagar Annex: Rs 2,200 per sq.ft (2024)
• Govindasamy Street: Rs 2,200 per sq.ft (2024)
• Gopal Reddy Estate: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Govindasamy Nagar 3rd Street

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. It is important to note that 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 information.

Which Sub Registrar Office covers Govindasamy Nagar 3rd Street?

The Sub Registrar Office that covers Govindasamy Nagar 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Jampuli. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Govindasamy Nagar 3rd Street?

The current guideline value of Govindasamy Nagar 3rd 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 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 of Govindasamy Nagar 3rd Street?

Govindasamy Nagar 3rd Street is classified as Residential Class II Type - I.

Which Sub Registrar Office should I visit for transactions in Govindasamy Nagar 3rd Street?

The Madhavaram Sub Registrar Office covers transactions for Govindasamy Nagar 3rd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Govindasamy Nagar 3rd 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 7%.