Guideline Value for DR. GOPALA MENON ROAD

Dr. Gopala Menon Road guideline value

The current guideline value of Dr. Gopala Menon Road is Rs 7,100 per sq.ft, effective from 1 July 2024. This road is located in Puliyur village under the Kodambakkam SRO, with a land classification of Residential Special Type - II.

How the guideline value of Dr. Gopala Menon Road has changed

The guideline value for Dr. Gopala Menon Road has undergone several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, there was a decrease to Rs 4,355 per sq.ft in 2017. The value then rose to Rs 6,500 per sq.ft in 2023, before reaching the current figure of Rs 7,100 per sq.ft in 2024.

Examining the changes, the increase from 2017 to 2023 was +49%, while the jump from 2023 to 2024 is +9%. The value saw a substantial rise of +261% from 2007 to 2012, but then a decrease of -33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by +294%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value range from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, placing Dr. Gopala Menon Road's 2024 figure above this median.

• Dr. Ambedkar Street, Ch-94: Rs 6,300 per sq.ft (2024)
• Dr. Ambedkar Salai, Ch-24: Rs 11,000 per sq.ft (2024)
• Dr. Radhakrishnan Nagar: Rs 5,000 per sq.ft (2024)
• Dr. Radhakrishnan Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Dr. Radhakrishnan Nagar 2 Nd Street: Rs 5,000 per sq.ft (2024)
• Dr. Radhakrishnan Nagar 3 Rd Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Gopala Menon Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Dr. Gopala Menon Road?

The Sub Registrar Office that covers Dr. Gopala Menon Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is assessed against the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are fairly valued and that the government collects the necessary taxes.

Frequently asked questions

What is the current guideline value of Dr. Gopala Menon Road?

The current guideline value of Dr. Gopala Menon Road is Rs 7,100 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 1,800 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, showing an overall increase of +294% over this period.

What is the land classification for Dr. Gopala Menon Road?

Dr. Gopala Menon Road is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the registration office for properties on Dr. Gopala Menon Road?

The registration office for properties on Dr. Gopala Menon Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Puliyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 71,00,000 would incur a stamp duty of Rs 4,97,000 at a rate of 7%.