Guideline Value for Govindu Street

Govindu Street guideline value

The current guideline value of Govindu Street in Tharamani village, under the Adayar SRO, is Rs 2,800 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Govindu Street has changed

The guideline value for Govindu Street has seen significant changes over the years. In 2002, the value was Rs 159 per sq.ft, which increased to Rs 300 per sq.ft in 2003. The subsequent revisions show a notable rise, with the value reaching Rs 1,000 per sq.ft in 2007, followed by a jump to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023 before reaching the current figure of Rs 2,800 per sq.ft in 2024.

Between these revisions, the changes were as follows: from 2002 to 2003, the increase was +89%; from 2003 to 2007, it rose by +233%; from 2007 to 2012, there was a +150% increase; however, from 2012 to 2017, it decreased by -33%. The value then increased by +49% from 2017 to 2023, and finally, there was a +12% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1661%.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the guideline value of Govindu Street.

• Indira Gandhi Street: Rs 2,800 per sq.ft (2024)
• Gandhi Street: Rs 2,800 per sq.ft (2024)
• Janda Street: Rs 2,800 per sq.ft (2024)
• Emmanuel Street: Rs 1,700 per sq.ft (2024)
• Elango Street: Rs 2,800 per sq.ft (2024)
• Kalaingar Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Govindu Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindu Street?

The Sub Registrar Office that covers Govindu Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tharamani. 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 sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Govindu Street?

The current guideline value of Govindu Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 159 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of +1661% over the years.

What is the land classification for Govindu Street?

Govindu Street falls under the Residential Class II Type - I land classification.

What are the other streets in Tharamani with the same guideline value?

Other streets in Tharamani that share the same guideline value of Rs 2,800 per sq.ft include Indira Gandhi Street, Gandhi Street, Janda Street, Elango Street, and Kalaingar Street.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.