Guideline Value for Govindhachari Salai

Govindhachari Salai guideline value

The current guideline value of Govindhachari Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Govindhachari Salai has changed

The guideline value for Govindhachari Salai has undergone several revisions over the years. The earliest recorded value is from 2007, set at Rs 620 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 384% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 3,000 per sq.ft in 2023, followed by a further rise to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it has risen by 432%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In the Kodambakkam village, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Govindhachari Salai is below this median.

• Govindasamy Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Govindasamy Street (JPT): Rs 4,900 per sq.ft (2024)
• Govindan Street Block 62: Rs 7,700 per sq.ft (2024)
• Gothandaramapillai Garden: Rs 4,100 per sq.ft (2024)
• Gothandan Street: Rs 4,100 per sq.ft (2024)
• Gopal Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Govindhachari Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindhachari Salai?

The Sub Registrar Office that covers Govindhachari Salai is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on the property’s worth.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Govindhachari Salai?

The current guideline value of Govindhachari Salai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, which is a total increase of 432% over the years.

What is the classification of land in Govindhachari Salai?

Govindhachari Salai is classified as Residential Class IV Type - II, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Govindhachari Salai?

The Ashok Nagar Sub Registrar Office covers Govindhachari Salai and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Govindhachari Salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.