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Guideline Value

Corporate

Guideline Value for Govindhappa Naicken Street 1st Cross Street

₹2750/sq.ft.

The guideline value for Govindhappa Naicken Street 1st Cross Street 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 Cross Street

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Govindhappa Naicken Street 1st Cross Street guideline value

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

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

The guideline value has undergone several revisions over the years. In 2002, the value was Rs 194 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a 10% rise. The following revision in 2007 saw a significant jump to Rs 400 per sq.ft, representing an 88% increase. By 2012, the value was Rs 2,500 per sq.ft, which was a substantial 525% increase from the previous figure. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The next revision in 2023 brought the value back up to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 10% increase.

There are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value is Rs 3,050 per sq.ft, placing Govindhappa Naicken Street 1st Cross Street's 2024 figure below that median.

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

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Govindhappa Naicken Street 1st Cross Street?

The Sub Registrar Office that covers Govindhappa Naicken Street 1st Cross Street 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 property transactions, as it determines the minimum value at which a property can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price.

This ensures that the government receives appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to understand the costs involved in the registration process.

Frequently asked questions

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

The current guideline value of Govindhappa Naicken Street 1st Cross Street 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 significantly from Rs 194 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1318% over this period.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, with Govindhappa Naicken Street 1st Cross Street's 2024 figure being below this median.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Govindhappa Naicken Street 1st Cross Street?

The Virugambakkam Sub Registrar Office handles registrations for Govindhappa Naicken Street 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.