Guideline Value for Govindasamy Street

Govindasamy Street guideline value

The current guideline value of Govindasamy Street in Payasampakkam village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Govindasamy Street has changed

Since the 2007 revision, the guideline value for Govindasamy Street has increased significantly. In 2007, the value was Rs 300 per sq.ft, which rose to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017. The value then increased to Rs 500 per sq.ft in 2023, before reaching the current figure of Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 83%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Payasampakkam

In Payasampakkam, there are 20 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 330 to Rs 660 per sq.ft, with a median value of Rs 550 per sq.ft. Govindasamy Street's 2024 figure matches this median.

• Kantha Kottam Nagar: Rs 330 per sq.ft (2024)
• Karumari Nagar: Rs 550 per sq.ft (2024)
• Karumari Nagar Extn: Rs 550 per sq.ft (2024)
• Kumarajan Nagar Annex - 1: Rs 550 per sq.ft (2024)
• Kumaran Nagar: Rs 550 per sq.ft (2024)
• Kumararajan Nagar Extn.: Rs 550 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Payasampakkam. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Govindasamy Street?

The current guideline value of Govindasamy Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 83% over this period.

What are the stamp duty rates for properties in Govindasamy Street?

The stamp duty for properties in Govindasamy Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Govindasamy Street located?

The Sub Registrar Office for Govindasamy Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Payasampakkam?

The median guideline value in Payasampakkam is Rs 550 per sq.ft, which is the same as the guideline value for Govindasamy Street in 2024.