Guideline Value for GOKUL NAGAR

Gokul Nagar guideline value

The current guideline value of Gokul Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Vallur village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Gokul Nagar has changed

The guideline value for Gokul Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 134 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2023 revision. Following this, the 2024 revision raised the guideline value to Rs 220 per sq.ft, marking a 10% increase from the previous year.

In terms of overall changes, the guideline value rose by 49% from 2017 to 2023 and has increased by 64% from 2017 to 2024. The register does not provide figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vallur

Vallur village has a total of 75 streets under the Thiruvottiyur SRO, with the 2024 guideline values ranging from Rs 220 to Rs 551 per sq.ft. The median guideline value in this area is Rs 220 per sq.ft, which is equal to the current value of Gokul Nagar.

• Ilakaliyamman Nagar: Rs 220 per sq.ft (2024)
• Gandhi Nagar: Rs 220 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 220 per sq.ft (2024)
• Eazhil Nagar: Rs 220 per sq.ft (2024)
• Jaya Nagar: Rs 220 per sq.ft (2024)
• D.S.R Nagar/Avenue: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Gokul Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total fees to Rs 19,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations based on your property details.

Which Sub Registrar Office covers Gokul Nagar?

The Sub Registrar Office that covers Gokul Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for additional information.

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

The guideline value plays a crucial role in property transactions in Vallur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that are payable at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall costs associated with property transactions. Ensuring compliance with the guideline value helps in smooth registration processes and avoids any legal complications.

Frequently asked questions

What is the current guideline value of Gokul Nagar?

The current guideline value of Gokul Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2017 to Rs 220 per sq.ft in 2024, with notable increases in the intervening years.

What is the role of the guideline value in property transactions?

The guideline value determines the minimum registration value for properties and is used to calculate stamp duty and registration fees during transactions.

Where can I find the Sub Registrar Office for Gokul Nagar?

The Sub Registrar Office for Gokul Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using the stamp duty and registration fee calculator available online.