Guideline Value for Govindasamy Street (Vetri Nagar)

Govindasamy Street (Vetri Nagar) guideline value

The current guideline value of Govindasamy Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Govindasamy Street (Vetri Nagar) has changed

The guideline value for Govindasamy Street (Vetri Nagar) has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 700 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a notable rise of 329%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. Following this, the value rose sharply to Rs 3,000 per sq.ft in 2023, and then further increased to the current rate of Rs 3,301 per sq.ft in 2024, reflecting a 10% rise.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 372%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is the same as the current guideline value for Govindasamy Street (Vetri Nagar).

• Gopalapuram Bajanai Koil 3rd Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram Bajanai Koil 2nd Street: Rs 3,300 per sq.ft (2024)
• Gopalapuram Bajanai Koil 1st Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram 3rd Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram 2nd Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram 1st Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Govindasamy Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total fees together to Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindasamy Street (Vetri Nagar)?

The Sub Registrar Office that covers Govindasamy Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Peravallur. It serves as the benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is documented at a fair value. This helps maintain transparency and accountability in property transactions, protecting both buyers and sellers.

Frequently asked questions

What is the current guideline value of Govindasamy Street (Vetri Nagar)?

The current guideline value of Govindasamy Street (Vetri Nagar) is Rs 3,301 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 700 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification for Govindasamy Street (Vetri Nagar)?

The land classification for Govindasamy Street (Vetri Nagar) is Residential Special Type - II.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Govindasamy Street (Vetri Nagar)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 33,01,000, leading to specific stamp duty and registration fees.