Guideline Value for Govindasamy Street

Govindasamy Street guideline value

The current guideline value of Govindasamy Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Govindasamy Street has changed

In the 2012 revision, the guideline value for Govindasamy Street was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 2,500 per sq.ft. The 2024 revision saw an increase to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Govindasamy Street.

• Govinda Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Gramaniyar Garden: Rs 2,700 per sq.ft (2024)
• Harbour Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Housing Board Colony: Rs 2,700 per sq.ft (2024)
• Indira Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar Extension Part-II: Rs 2,700 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 further calculations.

Which Sub Registrar Office covers Govindasamy Street?

The Sub Registrar Office that covers Govindasamy Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during property registration in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When buying or selling property, the guideline value helps ensure that both parties are aware of the minimum value set for the property, which is used for calculating the necessary fees. It is important to note that the fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Govindasamy Street?

The current guideline value of Govindasamy Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Govindasamy Street was Rs 2,500 per sq.ft in 2012 and remained the same in 2023. It increased to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What are the guideline values for other streets in Kodungaiyur?

Other streets in Kodungaiyur have varying guideline values. For instance, Govinda Street (Vivekananda Nagar), Gramaniyar Garden, Harbour Colony 1st Street, and Housing Board Colony all share the same guideline value of Rs 2,700 per sq.ft in 2024.

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

For a property valued at Rs 27,00,000 on Govindasamy Street, the stamp duty would amount to Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations for Govindasamy Street?

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