Guideline Value for Govintharaj Nagar

Govintharaj Nagar guideline value

The current guideline value of Govintharaj Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This locality is situated in Allappakkam village, under the Chengleput Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Govintharaj Nagar has changed

The guideline value for Govintharaj Nagar has seen several revisions over the years. In 2012, the value was set at Rs 800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 536 per sq.ft. Following this, the 2023 revision brought the value back up to Rs 800 per sq.ft, maintaining the same rate in the 2024 revision, reflecting a 0% change from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 800 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Allappakkam

In Allappakkam village, there are 51 streets under the Chengleput Joint I SRO that carry a guideline value for 2024, ranging from Rs 600 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, making the guideline value of Govintharaj Nagar below this median.

• Golden King Nagar: Rs 1,102 per sq.ft (2024)
• Harigtan nagar: Rs 902 per sq.ft (2024)
• Fathima Garden: Rs 1,200 per sq.ft (2024)
• Doctor's Enclave: Rs 902 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 902 per sq.ft (2024)
• Kengu Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Govintharaj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees together to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Govintharaj Nagar?

The Sub Registrar Office that covers Govintharaj Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Allappakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications involved in the transaction, as these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Govintharaj Nagar?

The current guideline value of Govintharaj Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since 2012, with a drop to Rs 536 per sq.ft in 2017, and then returning to Rs 800 per sq.ft in 2023 and 2024.

What is the land classification for Govintharaj Nagar?

Govintharaj Nagar is classified as Residential Class I Type - I.

What are the registration fees for property in Govintharaj Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Govintharaj Nagar?

The Sub Registrar Office for Govintharaj Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.