Guideline Value for Govindasamy Street (Ward-23)

Govindasamy Street (Ward-23) guideline value

The current guideline value of Govindasamy Street (Ward-23) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Govindasamy Street (Ward-23) has changed

The guideline value of Govindasamy Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, marking an 8% rise. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, which was a significant increase of 49% from the previous value of Rs 1,200 per sq.ft in 2012. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. Overall, comparing the values from 2012 to 2024, there has been a slight increase of 8%, indicating fluctuations in the guideline value over the years.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, making the 2024 guideline value of Govindasamy Street below this median.

• Govindasamy st (Ward No.22): Rs 1,300 per sq.ft (2024)
• Govindappa Naicker St (Ward-02): Rs 1,300 per sq.ft (2024)
• Government High School Road (Ward-7): Rs 1,300 per sq.ft (2024)
• Gowri Nagar: Rs 3,000 per sq.ft (2024)
• Gowri Nagar Main Road (Ward No.24): Rs 1,300 per sq.ft (2024)
• Gowri Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Govindasamy Street (Ward-23)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govindasamy Street (Ward-23)?

The Madhavaram Sub Registrar Office covers Govindasamy Street (Ward-23). The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, within the Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor during property registration in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory when transferring property ownership.

Frequently asked questions

What is the current guideline value of Govindasamy Street (Ward-23)?

The current guideline value of Govindasamy Street (Ward-23) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent being an increase from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. The value has also increased significantly from Rs 804 per sq.ft in 2017.

What is the land classification for Govindasamy Street?

The land classification for Govindasamy Street (Ward-23) is Residential Class III Type - I. This classification indicates the type of development permissible in the area.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,300 per sq.ft would incur a total fee of Rs 1,17,000, including both stamp duty and registration fees.