Guideline Value for GOKULAM AVENUE

Gokulam Avenue guideline value

The current guideline value of Gokulam Avenue in Nallur village, under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Gokulam Avenue has changed

Over the years, the guideline value for Gokulam Avenue has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value by 10% to Rs 1,650 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Gokulam Avenue. The overall change from the 2012 figure to the 2024 figure shows a modest increase of 10%.

Guideline values in Nallur

Nallur village has 39 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,650 per sq.ft. The median value among these streets is Rs 550 per sq.ft, indicating that Gokulam Avenue's 2024 figure is above this median.

• Gnt Road: Rs 1,650 per sq.ft (2024)
• Indra Gandhi Street: Rs 440 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 440 per sq.ft (2024)
• Kalpaga Nagar: Rs 770 per sq.ft (2024)
• Kalpaga Nagar - 1: Rs 770 per sq.ft (2024)
• Chengalamman Nagar Annex: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, these fees would total Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gokulam Avenue?

The Sub Registrar Office that covers Gokulam Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gokulam Avenue?

The current guideline value of Gokulam Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Gokulam Avenue has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the median guideline value for streets in Nallur?

The median guideline value for streets in Nallur is Rs 550 per sq.ft, with Gokulam Avenue's 2024 figure being above this median.

What are the stamp duty and registration fees for property in Gokulam Avenue?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 16,50,000. The stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office for Gokulam Avenue located?

The Redhills Sub Registrar Office, which covers Gokulam Avenue, is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.