Guideline Value for Govindharaj Street(S.V. Nagar)

Govindharaj Street(S.V. Nagar) guideline value

The current guideline value of Govindharaj Street(S.V. Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Govindharaj Street(S.V. Nagar) has changed

The guideline value for Govindharaj Street(S.V. Nagar) has undergone several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, there was a notable decrease to Rs 1,005 per sq.ft in 2017. Following this, the value saw a substantial rise to Rs 1,500 per sq.ft in 2023, and again increased to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

In total, from the 2007 revision to the 2024 revision, the guideline value has risen by 300%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Govindharaj Street(S.V. Nagar) is below this median.

• Govindhan Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Govindhan pillali Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Govindarajulu Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Govindan Street (Ganapathi Nagar): Rs 1,400 per sq.ft (2024)
• Govindan Street (Banu Nagar): Rs 2,200 per sq.ft (2024)
• Govindan Street (1st Ward): Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Govindharaj Street(S.V. Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Govindharaj Street(S.V. Nagar)?

The Sub Registrar Office that covers Govindharaj Street(S.V. Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Oragadam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for all property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value for Govindharaj Street(S.V. Nagar)?

The current guideline value for Govindharaj Street(S.V. Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking a total increase of 300% over the years.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations for Govindharaj Street(S.V. Nagar)?

The Ambattur Sub Registrar Office handles registrations for Govindharaj Street(S.V. Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Govindharaj Street(S.V. Nagar)?

Govindharaj Street(S.V. Nagar) is classified as Residential Class II Type - I.