Guideline Value for Gowtham Chand Lane

Gowtham Chand Lane guideline value

The current guideline value of Gowtham Chand Lane is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Gowtham Chand Lane has changed

The guideline value for Gowtham Chand Lane has seen several revisions over the years. The earliest recorded value in 2002 was Rs 370 per sq.ft. This increased to Rs 407 per sq.ft in 2003, marking a 10% rise. Following this, the value surged to Rs 1,000 per sq.ft in 2007, reflecting a significant increase of 146%. In 2012, the value was Rs 1,800 per sq.ft, which was an 80% increase from the previous revision. However, this value decreased to Rs 1,206 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 1,800 per sq.ft, indicating a 49% increase. The most recent revision in 2024 set the value at Rs 1,900 per sq.ft, representing a 6% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 414%.

Guideline values in Siruvallur

In Siruvallur village, there are 86 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, which is equal to the current guideline value of Gowtham Chand Lane.

• Govindarajulu Street: Rs 1,900 per sq.ft (2024)
• Govindarajulu Lane: Rs 1,600 per sq.ft (2024)
• Govardhan Doss Street: Rs 1,900 per sq.ft (2024)
• Hot Kins Road: Rs 1,900 per sq.ft (2024)
• Jagannatha Colony (Foxen St.): Rs 2,800 per sq.ft (2024)
• Francis Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gowtham Chand Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000. Together, the total cost for these fees would be Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gowtham Chand Lane?

The Sub Registrar Office that covers Gowtham Chand Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property in Siruvallur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duties are calculated based on this value.

When a property is sold, the guideline value is used to assess the applicable taxes and fees. It ensures that both parties are aware of the financial implications involved in the transaction, providing a clear framework for property dealings in the area.

Frequently asked questions

What is the current guideline value of Gowtham Chand Lane?

The current guideline value of Gowtham Chand Lane is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 370 per sq.ft in 2002 and reaching Rs 1,900 per sq.ft in 2024, marking an overall increase of 414% since 2002.

What is the land classification for Gowtham Chand Lane?

The land classification for Gowtham Chand Lane is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Gowtham Chand Lane?

The Sub Registrar Office for Gowtham Chand Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duties calculated for properties in Gowtham Chand Lane?

Stamp duties are calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 19,00,000 would incur a stamp duty of Rs 1,33,000 at 7%.