Guideline Value for Govindasamy Nagar 4th Street

Govindasamy Nagar 4th Street guideline value

The current guideline value of Govindasamy Nagar 4th 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 4th Street has changed

The guideline value for Govindasamy Nagar 4th Street has undergone several revisions over the years. The earliest recorded value is from 2012, which was Rs 2,000 per sq.ft. This figure changed to Rs 1,340 per sq.ft in 2017, marking a decrease of 33%. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is a 10% increase. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Jampuli

In Jampuli, there are 118 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,700 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,450 per sq.ft, placing Govindasamy Nagar 4th Street's 2024 value below this median.

• Govindasamy Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Govindasamy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Govindasamy Nagar Annex: Rs 2,200 per sq.ft (2024)
• Govindasamy Nagar 1st Street: 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 4th 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 cost for these 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.

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

Which Sub Registrar Office covers Govindasamy Nagar 4th Street?

The Sub Registrar Office that covers Govindasamy Nagar 4th 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 plays a crucial role in property transactions in Jampuli. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during registration.

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

Frequently asked questions

What is the current guideline value of Govindasamy Nagar 4th Street?

The current guideline value of Govindasamy Nagar 4th 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 for Govindasamy Nagar 4th Street?

Govindasamy Nagar 4th Street is classified as Residential Class II Type - I.

Which Sub Registrar Office handles registrations for this area?

The Madhavaram Sub Registrar Office handles registrations for Govindasamy Nagar 4th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Jampuli?

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