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Guideline Value

Corporate

Guideline Value for Govindhappa Naicken Street 1st Main Road

₹2750/sq.ft.

The guideline value for Govindhappa Naicken Street 1st Main Road in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹213 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹194 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[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 Govindhappa Naicken Street 1st Main Road

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Govindhappa Naicken Street 1st Main Road guideline value

The current guideline value of Govindhappa Naicken Street 1st Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Govindhappa Naicken Street 1st Main Road has changed

Over the years, the guideline value of Govindhappa Naicken Street 1st Main Road has seen several revisions. The earliest recorded figure is from 2002, with a guideline value of Rs 194 per sq.ft. This increased to Rs 213 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 400 per sq.ft in 2007, which is an increase of 88%. In 2012, the guideline value was Rs 2,500 per sq.ft, reflecting a substantial increase of 525% from the previous revision. However, it decreased to Rs 1,675 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value rose dramatically to Rs 2,500 per sq.ft, which is a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year. There are no figures available for revisions in years not listed, ensuring that all changes are accounted for.

Guideline values in Maduravoyal

In Maduravoyal, there are a total of 636 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, indicating that the 2024 figure for Govindhappa Naicken Street 1st Main Road is below this median.

Stamp duty and registration fee for property in Govindhappa Naicken Street 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration fee would be Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govindhappa Naicken Street 1st Main Road?

The Sub Registrar Office that covers Govindhappa Naicken Street 1st Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared against the sale price. The higher amount is used to calculate the applicable duties and fees, ensuring that the correct amount is collected by the authorities.

Frequently asked questions

What is the current guideline value of Govindhappa Naicken Street 1st Main Road?

The current guideline value of Govindhappa Naicken Street 1st Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 194 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting a significant overall increase of 1318%.

What is the land classification for this street?

Govindhappa Naicken Street 1st Main Road is classified as Residential Class IV Type - I.

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

The Virugambakkam Sub Registrar Office, which covers Govindhappa Naicken Street 1st Main Road, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at 7%.