Guideline Value for Govindaswamy Nagar 4th Cross Street

Govindaswamy Nagar 4th Cross Street guideline value

The current guideline value of Govindaswamy Nagar 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Govindaswamy Nagar 4th Cross Street has changed

According to the guideline value register, there are no figures available for Govindaswamy Nagar 4th Cross Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only revision that has a figure for this street is from 2024, where the guideline value is set at Rs 2,200 per sq.ft.

Since there are no changes recorded between the revisions listed, the current value remains the same as the previous figures for other streets in the area. The 2024 revision is the first time a guideline value has been established for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1,823 streets under the Velacheri SRO carrying a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Govindaswamy Nagar 4th Cross Street is below this median.

• Govindaswamy Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Govindaswamy Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Govindaswamy Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Govindaswamy Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Govindaswamy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Govindaswamy Nagar 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Govindaswamy Nagar 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Govindaswamy Nagar 4th Cross Street?

The Velacheri Sub Registrar Office covers Govindaswamy Nagar 4th Cross Street. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in the property registration process in Madipakkam-1. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a value that reflects the local market conditions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. Buyers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Govindaswamy Nagar 4th Cross Street?

The current guideline value for Govindaswamy Nagar 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

What land classification does Govindaswamy Nagar 4th Cross Street fall under?

Govindaswamy Nagar 4th Cross Street is classified as Residential Class II Type - I.

Are there any previous guideline values for this street?

No, the register has no figures for Govindaswamy Nagar 4th Cross Street for the years 2002, 2003, 2007, 2012, 2017, and 2023.

How does the guideline value compare to other streets in Madipakkam-1?

The guideline value of Rs 2,200 per sq.ft for Govindaswamy Nagar 4th Cross Street is below the median value of Rs 2,750 per sq.ft for the area.

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate your fees using the stamp duty and registration fee calculator.