Guideline Value for GOKUL GARDEN

Gokul Garden guideline value

The current guideline value of Gokul Garden, located in Kizhnallathur & Melnallathur village under the Manavalanagar SRO, is Rs 502 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Gokul Garden has changed

In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 335 per sq.ft, reflecting a decrease of 33%. Following this, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, and then slightly to Rs 502 per sq.ft in the 2024 revision, showing no percentage change from the previous year.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. Overall, comparing the 2012 figure to the current 2024 value, there has been no net change, as both years reflect a value of Rs 500 and Rs 502 respectively.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value of Gokul Garden is above this median.

• Ganesh Ram Nagar: Rs 226 per sq.ft (2024)
• Gandhi Nagar: Rs 250 per sq.ft (2024)
• Ellappa Nagar: Rs 250 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 200 per sq.ft (2024)
• Kalavathi Nagar: Rs 200 per sq.ft (2024)
• Kansanbai Nagar: Rs 502 per sq.ft (2024)

Stamp duty and registration fee for property in Gokul Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 502 per sq.ft, the total guideline value would be Rs 5,02,000. The stamp duty at 7% would amount to Rs 35,140, and the registration fee at 2% would be Rs 10,040, leading to a total of Rs 45,180. It is important to note that the 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 Gokul Garden?

The Gokul Garden area is covered by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a crucial factor in the registration process of property transactions in Kizhnallathur & Melnallathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property for taxation purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Gokul Garden?

The current guideline value of Gokul Garden is Rs 502 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 in 2012 to Rs 335 in 2017, then increased to Rs 500 in 2023, and finally to Rs 502 in 2024. The overall change from 2012 to 2024 is 0%.

What is the land classification for Gokul Garden?

Gokul Garden is classified as Residential Special Type - I. This classification is important for understanding the potential uses of the land.

Where is the Sub Registrar Office for Gokul Garden located?

The Sub Registrar Office covering Gokul Garden is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot at the current rate, the total cost would be Rs 45,180.