Guideline Value for Govindasamy Street

Govindasamy Street guideline value

The current guideline value of Govindasamy Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - II.

How the guideline value of Govindasamy Street has changed

The guideline value for Govindasamy Street has seen several revisions over the years. In 2012, the value was Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024. The revisions for the years 2002, 2003, and 2007 have no figures available for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft as of 2024. The median guideline value in this area is Rs 1,650 per sq.ft, positioning Govindasamy Street below this median value.

• Gowsalya Nagar: Rs 3,300 per sq.ft (2024)
• Gowthaman St: Rs 1,650 per sq.ft (2024)
• Gopalraw street: Rs 1,650 per sq.ft (2024)
• Gomathi Street: Rs 2,750 per sq.ft (2024)
• Gomathi Nagar Yamuna Street: Rs 2,750 per sq.ft (2024)
• Gomathi Nagar: Rs 2,750 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000. Together, the total cost for these fees would be Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Govindasamy Street?

The Sub Registrar Office that covers Govindasamy Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Govindasamy Street?

The current guideline value of Govindasamy Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Govindasamy Street?

Govindasamy Street is classified as Residential Class II Type - II under the guideline value register.

Where can I find the Sub Registrar Office for Govindasamy Street?

The Sub Registrar Office for Govindasamy Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated in Chitlapakkam?

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 1,100 per sq.ft would incur a total guideline value of Rs 11,00,000, leading to specific fees based on this amount.