Guideline Value for Gowtham Nagar

Gowtham Nagar guideline value

The current guideline value of Gowtham Nagar, located in Pennaloor village under the Sriperumpudur SRO, is Rs 200 per sq.ft, effective from the 2024 revision starting 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Gowtham Nagar has changed

The guideline value for Gowtham Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 50 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2012. However, it then decreased to Rs 134 per sq.ft in 2017. The value remained at Rs 200 per sq.ft during the 2023 revision and has not changed in the 2024 revision, indicating a 0% change from 2023 to 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 300%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Pennaloor

In Pennaloor village, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,200 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of Gowtham Nagar is equal to this median.

• Gangai Amman Koil Street: Rs 200 per sq.ft (2024)
• Havisha Homes: Rs 850 per sq.ft (2024)
• Heath Centre: Rs 200 per sq.ft (2024)
• E.B.Kudi Colony: Rs 200 per sq.ft (2024)
• K.A.Anna Nagar: Rs 400 per sq.ft (2024)
• K.A.Anna Nagar Ph.-II: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Gowtham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value is Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making a total of Rs 18,000. 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 Nagar?

The Gowtham Nagar area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pennaloor. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented 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 obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Gowtham Nagar?

The current guideline value of Gowtham Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, decreased to Rs 134 per sq.ft in 2017, and has remained at Rs 200 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification of Gowtham Nagar?

Gowtham Nagar falls under the Residential Class III Type - I land classification, indicating its suitability for residential development.

What are the stamp duty rates applicable in Gowtham Nagar?

The stamp duty for properties in Gowtham Nagar is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office that covers Gowtham Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.