Guideline Value for Gowthaman St

Gowthaman St guideline value

The current guideline value of Gowthaman St in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Gowthaman St has changed

The guideline value for Gowthaman St has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has brought the value to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 regarding the guideline value of this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in the village is Rs 1,650 per sq.ft, which is the same as the current value for Gowthaman St.

• Gowsalya Nagar: Rs 3,300 per sq.ft (2024)
• Govindasamy Street: Rs 1,100 per sq.ft (2024)
• Gopalraw street: Rs 1,650 per sq.ft (2024)
• Gomathi Street: Rs 2,750 per sq.ft (2024)
• Gomathi Nagar Yamuna Street: Rs 2,750 per sq.ft (2024)
• Gomathi Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Gowthaman St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gowthaman St?

The Gowthaman St is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must ensure that the transaction adheres to these values to comply with legal requirements.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gowthaman St?

The current guideline value of Gowthaman St is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Gowthaman St?

Gowthaman St is classified as Residential Class I Type - III.

Where can I find the registration office for Gowthaman St?

The registration office for Gowthaman St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the total fees would include a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000.