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Guideline Value

Corporate

Guideline Value for Govindaswamy Nagar 5th Cross Street

₹2200/sq.ft.

The guideline value for Govindaswamy Nagar 5th Cross Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Govindaswamy Nagar 5th Cross Street

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Govindaswamy Nagar 5th Cross Street guideline value

The current guideline value of Govindaswamy Nagar 5th 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 and falls under the Residential Class II Type - I land classification.

How the guideline value of Govindaswamy Nagar 5th Cross Street has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This figure was revised to Rs 2,200 per sq.ft in 2024, reflecting a significant increase of 64% over the seven-year period. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

The 2024 figure of Rs 2,200 per sq.ft marks a notable change from the previous revision in 2017. This increase indicates a substantial adjustment in the valuation of properties in this area over time.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry 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 5th Cross Street is below this median.

Stamp duty and registration fee for property in Govindaswamy Nagar 5th 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 would be Rs 22,00,000. The stamp duty is charged at 7%, amounting to Rs 1,54,000, while the registration fee is 2%, totaling Rs 44,000. Together, these fees would amount 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 5th Cross Street?

The Sub Registrar Office covering Govindaswamy Nagar 5th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value.

Frequently asked questions

What is the current guideline value of Govindaswamy Nagar 5th Cross Street?

The current guideline value of Govindaswamy Nagar 5th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing an increase of 64% over this period.

Are there any years without a guideline value for this street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Govindaswamy Nagar 5th Cross Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Govindaswamy Nagar 5th Cross Street?

The Velacheri Sub Registrar Office handles registrations for Govindaswamy Nagar 5th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.