Guideline Value for Govindasamy Street

Govindasamy Street guideline value

The current guideline value of Govindasamy Street in Nanganallur village is Rs 5,000 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Commercial Class I Type - II.

How the guideline value of Govindasamy Street has changed

The guideline value of Govindasamy Street has undergone several revisions over the years. In 2002, the value was Rs 334 per sq.ft, which increased to Rs 380 per sq.ft in 2003, marking a change of +14%. The value saw a significant rise to Rs 1,750 per sq.ft in 2007, reflecting an increase of +361%. In 2012, the value was Rs 4,500 per sq.ft, indicating an increase of +157% from the previous revision. However, the value then decreased to Rs 3,015 per sq.ft in 2017, a drop of -33%. The guideline value rose again to Rs 4,500 per sq.ft in 2023, showing an increase of +49%. Finally, the current value is Rs 5,000 per sq.ft as of the 2024 revision, representing an increase of +11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1397%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 3,900 per sq.ft. Govindasamy Street's 2024 guideline value of Rs 5,000 per sq.ft is above this median.

• Gurunathan Street: Rs 2,800 per sq.ft (2024)
• Gandhi Street: Rs 4,400 per sq.ft (2024)
• Gandhi Road Lane: Rs 4,400 per sq.ft (2024)
• Jain College: Rs 4,400 per sq.ft (2024)
• Ganapathi Street: Rs 2,800 per sq.ft (2024)
• First Main Road Part: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Govindasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees to Rs 4,50,000. Please note that the 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 Street?

The Sub Registrar Office that covers Govindasamy Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nanganallur. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements. The value is updated periodically, reflecting changes in the real estate market, and it is advisable to check the latest figures before proceeding with any transaction.

Frequently asked questions

What is the current guideline value of Govindasamy Street?

The current guideline value of Govindasamy Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 334 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, marking an overall increase of +1397%.

What is the land classification of Govindasamy Street?

Govindasamy Street is classified as Commercial Class I Type - II under the Alandur SRO.

What are the stamp duty and registration fees for property in Govindasamy Street?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Where is the Sub Registrar Office for Govindasamy Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.