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Guideline Value

Corporate

Guideline Value for Govindaswamy Nagar 6th CrossStreet

₹2200/sq.ft.

The guideline value for Govindaswamy Nagar 6th Crossstreet in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. 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 ₹2000 /sq.ft.
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 6th Crossstreet

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Govindaswamy Nagar 6th CrossStreet guideline value

The current guideline value of Govindaswamy Nagar 6th CrossStreet 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 is classified as Residential Class II Type - I.

How the guideline value of Govindaswamy Nagar 6th CrossStreet has changed

The guideline value for Govindaswamy Nagar 6th CrossStreet has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase from Rs 2,000 per sq.ft in the 2023 revision. This represents a 10% increase. Looking back further, the 2017 revision recorded a guideline value of Rs 1,340 per sq.ft, leading to a significant increase of 49% to reach the 2023 figure. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. This lack of data indicates that the guideline value may not have been established or recorded for those years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, making the current value of Govindaswamy Nagar 6th CrossStreet below that median.

Stamp duty and registration fee for property in Govindaswamy Nagar 6th CrossStreet

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, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govindaswamy Nagar 6th CrossStreet?

The Sub Registrar Office that covers Govindaswamy Nagar 6th CrossStreet 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to understand that the guideline value serves as a benchmark for the transaction. This ensures that the fees associated with the registration process are calculated fairly and transparently, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Govindaswamy Nagar 6th CrossStreet?

The current guideline value of Govindaswamy Nagar 6th CrossStreet is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a total increase of 64%. The most recent change was a 10% increase from Rs 2,000 per sq.ft in 2023.

What are the other streets in Madipakkam-1 with the same guideline value?

Several other streets in Madipakkam-1 also have a guideline value of Rs 2,200 per sq.ft for 2024. These include Govindaswamy Nagar 5th Street, Govindaswamy Nagar 6th Street, Govindaswamy Nagar 7th Cross Street, Govindaswamy Nagar 5th Cross Street, Govindaswamy Nagar 7th Street, and Govindaswamy Nagar 4th Street.

How is stamp duty calculated for properties in this area?

Stamp duty for properties in Govindaswamy Nagar 6th CrossStreet is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Govindaswamy Nagar 6th CrossStreet is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.