Guideline Value for Govindaswamy Nagar

Govindaswamy Nagar guideline value

The current guideline value of Govindaswamy Nagar is Rs 1,960 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Govindaswamy Nagar has changed

The guideline value for Govindaswamy Nagar has undergone several revisions over the years. In 2002, the value was Rs 66 per sq.ft, which increased to Rs 94 per sq.ft in 2003, marking a 42% rise. The value then saw a significant jump to Rs 300 per sq.ft in 2007, reflecting a 219% increase. By 2012, the value was revised to Rs 1,800 per sq.ft, which was a 500% increase from the previous revision. However, it decreased to Rs 1,206 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 1,800 per sq.ft in 2023, followed by the current rate of Rs 1,960 per sq.ft in 2024, representing a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,870%. The register has no figures for the years between these revisions for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Govindaswamy Nagar below that median.

• G.P. Samy Nagar Layout: Rs 3,300 per sq.ft (2024)
• Gopal Nagar 1 To 5 Streets: Rs 1,980 per sq.ft (2024)
• Gopal Nagar: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar: Rs 1,980 per sq.ft (2024)
• Hasthinapuram Salai: Rs 1,960 per sq.ft (2024)
• Hasthinapuram Salai 1 To 10 Streets: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Govindaswamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,960 per sq.ft, the total guideline value amounts to Rs 19,60,000. The stamp duty at 7% would be Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, totaling Rs 1,76,400. 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 more details.

Which Sub Registrar Office covers Govindaswamy Nagar?

The Sub Registrar Office that covers Govindaswamy Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nanmangalam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with the legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Govindaswamy Nagar?

The current guideline value of Govindaswamy Nagar is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 66 per sq.ft in 2002 to Rs 1,960 per sq.ft in 2024, showing an overall increase of 2,870% over the years.

What is the land classification of Govindaswamy Nagar?

Govindaswamy Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Govindaswamy Nagar?

The Sub Registrar Office for Govindaswamy Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft property at the current guideline value would incur a total of Rs 1,76,400 in fees.