Guideline Value for Gowtham Nagar

Gowtham Nagar guideline value

The current guideline value of Gowtham Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Vallam village under the Sriperumpudur SRO and is classified as Residential Special Type - I.

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 value was Rs 80 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it saw a decrease to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 600 per sq.ft, indicating no change in the last year.

From 2017 to 2023, the guideline value rose by 79%. The increase from 2012 to 2017 was a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 525%. Overall, from 2007 to 2024, the guideline value has increased by 650%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of Gowtham Nagar is above this median.

• Gowtham Nagar Extn-IV: Rs 600 per sq.ft (2024)
• Green Holiday Resorts: Rs 300 per sq.ft (2024)
• Gayathiri Nagar: Rs 200 per sq.ft (2024)
• Highway: Rs 601 per sq.ft (2024)
• Gandhi Nagar: Rs 300 per sq.ft (2024)
• Ganapathy Nagar: Rs 200 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 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total fees together Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Vallam

The guideline value is a crucial factor in property transactions in Vallam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold. This value is set by the government and is updated periodically to reflect changes in the market.

When registering a property, 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 appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gowtham Nagar?

The current guideline value of Gowtham Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 600 per sq.ft in 2024, with several revisions in between, including a decrease in 2017 and a significant increase from 2012 to 2017.

What is the land classification of Gowtham Nagar?

Gowtham Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the registration office for Gowtham Nagar?

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

How is stamp duty calculated in Gowtham Nagar?

Stamp duty in Gowtham Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000, resulting in a stamp duty of Rs 42,000.