Guideline Value for S.M.GOVINDASAMI STREET

S.M.Govindasami Street guideline value

The current guideline value of S.M.Govindasami Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village, under the Neelankarai SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of S.M.Govindasami Street has changed

The guideline value for S.M.Govindasami Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 2,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value was not recorded for the aforementioned years. The 2024 revision represents a significant update for this street, aligning it with the median value of Rs 2,200 per sq.ft for other streets in Sholinganallur - 1.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, making S.M.Govindasami Street's 2024 figure equal to this median.

• S.N.Jayaraman Street(Grama Nadunchalai 39th Cross Street): Rs 2,200 per sq.ft (2024)
• Sparkling Garden 1st Street: Rs 4,400 per sq.ft (2024)
• Sparkling Garden 2nd Street: Rs 4,400 per sq.ft (2024)
• Sparkling Sons Avenue: Rs 4,400 per sq.ft (2024)
• Spring Field: Rs 4,400 per sq.ft (2024)
• Spring Garden 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in S.M.Govindasami Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. Duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.M.Govindasami Street?

The Sub Registrar Office that covers S.M.Govindasami Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Sholinganallur - 1. It serves as a benchmark for the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value helps in calculating the applicable taxes and fees, which are essential for the legal transfer of ownership. Buyers should be aware that these costs can significantly affect the overall expenses involved in a property transaction.

Frequently asked questions

What is the current guideline value of S.M.Govindasami Street?

The current guideline value of S.M.Govindasami Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for S.M.Govindasami Street?

The land classification for S.M.Govindasami Street is Residential Class II Type - III, indicating its suitability for residential development.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000.