Guideline Value for Gowthama Nagar

Gowthama Nagar guideline value

The current guideline value of Gowthama Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is located in Kilkattalai village under the Pallavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Gowthama Nagar has changed

The guideline value for Gowthama Nagar has undergone several revisions over the years. In 2003, the value was Rs 112 per sq.ft. This increased to Rs 300 per sq.ft in 2007, marking a significant rise of 168%. The value then saw a dramatic increase to Rs 2,000 per sq.ft in 2012, which was a rise of 567%. However, it decreased to Rs 1,340 per sq.ft in 2017, reflecting a drop of 33%. In 2023, the value was revised to Rs 2,000 per sq.ft, followed by the current value of Rs 2,160 per sq.ft in 2024, which is an increase of 8%.

Overall, from 2003 to 2024, the guideline value has increased by 1,829%. The register has no figure for the year 2002 for this street.

Guideline values in Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft, with a median value of Rs 2,530 per sq.ft. The guideline value for Gowthama Nagar is below this median.

• Golden Avenue: Rs 2,200 per sq.ft (2024)
• Gokulam Nagar Ext: Rs 2,200 per sq.ft (2024)
• Guruvayurappan Nagar: Rs 2,530 per sq.ft (2024)
• Ganga Nagar: Rs 3,080 per sq.ft (2024)
• Ganga Garden: Rs 1,980 per sq.ft (2024)
• Ganesh Nagar: Rs 4,125 per sq.ft (2024)

Stamp duty and registration fee for property in Gowthama Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gowthama Nagar?

The Gowthama Nagar area falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Kilkattalai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales. Buyers and sellers must consider the guideline value when negotiating sale prices, as it can influence the final transaction amount.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is transparent and reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gowthama Nagar?

The current guideline value of Gowthama Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 112 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 1,829%.

What is the land classification of Gowthama Nagar?

Gowthama Nagar is classified as Residential Class III Type - I.

What are the stamp duty rates for properties in Gowthama Nagar?

The stamp duty for properties in Gowthama Nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Gowthama Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.