Guideline Value for Govindharajan Street

Govindharajan Street guideline value

The current guideline value of Govindharajan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pattravakkam village, under the Konnur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Govindharajan Street has changed

Over the years, the guideline value of Govindharajan Street has seen several revisions. The earliest recorded revision is from 2007, where the value was Rs 300 per sq.ft. This increased to Rs 800 per sq.ft in 2012, marking a significant rise of 167%. However, the value then decreased to Rs 536 per sq.ft in 2017, which was a drop of 33%. The value further increased to Rs 1,000 per sq.ft in 2023, reflecting an 87% increase. The most recent revision in 2024 has set the value at Rs 1,100 per sq.ft, a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Guideline values in Pattravakkam

Pattravakkam village has a total of 34 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,900 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, indicating that the guideline value of Govindharajan Street is below the median.

• Gurumoorthi Nagar: Rs 1,100 per sq.ft (2024)
• GoodWill Street: Rs 1,500 per sq.ft (2024)
• Gnanamoorthi Street: Rs 2,200 per sq.ft (2024)
• Ganamoorthi Nagar Extension & Streets & Lanes: Rs 2,200 per sq.ft (2024)
• Kabaleeswarar Nagar: Rs 1,100 per sq.ft (2024)
• D.T.P. Colony & Streets: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Govindharajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindharajan Street?

The Sub Registrar Office that covers Govindharajan Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pattravakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official value set by the authorities.

When a property transaction occurs, the higher value between the guideline value and the sale price is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Govindharajan Street?

The current guideline value of Govindharajan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification of Govindharajan Street?

Govindharajan Street is classified as Residential Class III Type - I.

Which office handles the registration for properties in Govindharajan Street?

The Konnur Sub Registrar Office handles the registration for properties in Govindharajan Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Pattravakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.