Guideline Value for GOKULAM NAGAR PHASE -II

Gokulam Nagar Phase -II guideline value

The current guideline value of Gokulam Nagar Phase -II is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Pulipurakoil village and falls under the Madurandakam SRO, classified as Residential Class II Type - I.

How the guideline value of Gokulam Nagar Phase -II has changed

The guideline value for Gokulam Nagar Phase -II has seen several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 100 per sq.ft. This increased to Rs 150 per sq.ft in both the 2023 and 2024 revisions, showing a 50% increase from 2017 to 2023 and maintaining the same value in 2024. The register has no figure for this street for the years 2002, 2003, 2007, and 2012.

From the 2023 revision to the 2024 revision, there was no change in the guideline value, remaining at Rs 150 per sq.ft. Overall, comparing the 2017 and 2024 revisions, the guideline value has increased by 50%.

Guideline values in Pulipurakoil

In Pulipurakoil, there are six streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 120 per sq.ft. Gokulam Nagar Phase -II's 2024 figure of Rs 150 per sq.ft is above this median.

• Gokulam Nagar: Rs 120 per sq.ft (2024)
• Sakthi Nagar Phase-II: Rs 120 per sq.ft (2024)
• Sri Azhagu Thiruvathamman Nagar: Rs 101 per sq.ft (2024)
• Sri Sai Nagar: Rs 100 per sq.ft (2024)
• Durgai Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam Nagar Phase -II

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, while the registration fee at 2% would be Rs 3,000, bringing the total additional costs to Rs 13,500. 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 more details.

Which Sub Registrar Office covers Gokulam Nagar Phase -II?

The Sub Registrar Office that covers Gokulam Nagar Phase -II is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor during the registration of property transactions in Pulipurakoil. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on an official valuation.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and fairness in the transaction process, as it reflects the government's valuation of the property in that area.

Frequently asked questions

What is the current guideline value of Gokulam Nagar Phase -II?

The current guideline value of Gokulam Nagar Phase -II is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in both 2023 and 2024, marking a 50% increase overall from 2017 to 2024.

What is the land classification for Gokulam Nagar Phase -II?

Gokulam Nagar Phase -II is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Gokulam Nagar Phase -II?

The Madurandakam Sub Registrar Office covers Gokulam Nagar Phase -II, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Gokulam Nagar Phase -II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 10,500.