Guideline Value for Govindhappa Naicken Street 2nd Cross Street

Govindhappa Naicken Street 2nd Cross Street guideline value

The current guideline value of Govindhappa Naicken Street 2nd 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 2nd Cross Street has changed

The guideline value for Govindhappa Naicken Street 2nd Cross Street 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. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and then it surged to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017, before climbing back to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft.

The changes between revisions show a +10% increase from 2023 to 2024, a +49% increase from 2017 to 2023, a -33% decrease from 2012 to 2017, a +525% increase from 2007 to 2012, a +88% increase from 2003 to 2007, and a +10% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by +1318%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value in this area is Rs 3,050 per sq.ft, and the guideline value for Govindhappa Naicken Street 2nd Cross Street is below this median.

• Govindhappa Naicken Street 1st Main Road: Rs 2,750 per sq.ft (2024)
• Govindhappa Naicken Street 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Govindhappa Naicken Street 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Govindaraja Nagar: Rs 2,750 per sq.ft (2024)
• G.K.Industrial Estate 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• G.K.Industrial Estate 2nd Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Govindhappa Naicken Street 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total 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, making the total fees Rs 2,47,500. 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 information.

Which Sub Registrar Office covers Govindhappa Naicken Street 2nd Cross Street?

The Sub Registrar Office that covers Govindhappa Naicken Street 2nd 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value serves as a benchmark for calculating the applicable duties and fees. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value for Govindhappa Naicken Street 2nd Cross Street?

The current guideline value for Govindhappa Naicken Street 2nd 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 from Rs 194 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting a significant overall increase of +1318% over this period.

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 Sub Registrar Office is responsible for this street?

The Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, is responsible for Govindhappa Naicken Street 2nd Cross Street.

What is the land classification for Govindhappa Naicken Street 2nd Cross Street?

The land classification for Govindhappa Naicken Street 2nd Cross Street is Residential Class IV Type - I.