Guideline Value for B.M. Gopal Street

B.M. Gopal Street guideline value

The current guideline value of B.M. Gopal Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of B.M. Gopal Street has changed

The guideline value for B.M. Gopal Street has seen several revisions over the years. The earliest recorded figure is from 2003, at Rs 438 per sq.ft. This value increased significantly to Rs 800 per sq.ft in 2007, marking an increase of 83%. In 2012, the value rose to Rs 3,000 per sq.ft, reflecting a substantial increase of 275%. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, followed by the latest revision in 2024, which set the guideline value at Rs 3,300 per sq.ft, an increase of 10% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 653%. The register does not have a recorded figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of B.M. Gopal Street.

• Big Street(Periya Theru): Rs 3,520 per sq.ft (2024)
• Bramin Street: Rs 3,300 per sq.ft (2024)
• Bhuvaneswari Matha Street: Rs 2,750 per sq.ft (2024)
• Bujangarao 1st Street: Rs 3,850 per sq.ft (2024)
• Bujangarao 2nd Street: Rs 3,850 per sq.ft (2024)
• Bujangarao Line: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in B.M. Gopal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 B.M. Gopal Street?

The Sub Registrar Office that covers B.M. Gopal Street is 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 details.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the prevailing guideline value.

Frequently asked questions

What is the current guideline value of B.M. Gopal Street?

The current guideline value of B.M. Gopal Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 438 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 653% over the years.

What is the land classification for B.M. Gopal Street?

B.M. Gopal Street falls under the land classification of Residential Class I Type - II.

What are the stamp duty rates for property in B.M. Gopal Street?

The stamp duty for property transactions in B.M. Gopal Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for B.M. Gopal Street located?

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