Guideline Value for GOKULAM NAGAR

Gokulam Nagar guideline value

The current guideline value of Gokulam Nagar is Rs 555 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village under the Madurandakam SRO, classified as Residential Class I Type - I.

How the guideline value of Gokulam Nagar has changed

The guideline value of Gokulam Nagar has seen significant changes over the years. In 2007, the value was Rs 80 per sq.ft, which increased dramatically to Rs 500 per sq.ft in 2012. However, this value dropped to Rs 335 per sq.ft in 2017. The 2023 revision set the value at Rs 500 per sq.ft, and the most recent revision in 2024 raised it to Rs 555 per sq.ft, marking an increase of 11% from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%. The jump from 2007 to 2012 was a substantial 525%, while the overall change from 2007 to 2024 reflects an increase of 594%. The fluctuations in these revisions highlight the changing landscape of property values in Gokulam Nagar.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. Gokulam Nagar's 2024 guideline value is below this median.

• Gst Road Bazaar Street: Rs 1,110 per sq.ft (2024)
• Gandhinagar Periya Colony: Rs 660 per sq.ft (2024)
• Gandhinagar Lourdupuram: Rs 555 per sq.ft (2024)
• Gandhinagar Gangaiamman Koil Street: Rs 660 per sq.ft (2024)
• Gain Nagar: Rs 1,110 per sq.ft (2024)
• Hospital Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 555 per sq.ft, the guideline value would be Rs 5,55,000. The stamp duty at 7% would amount to Rs 38,850, and the registration fee at 2% would be Rs 11,100, making the total Rs 49,950. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gokulam Nagar?

The Sub Registrar Office that covers Gokulam Nagar 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 Mathuranthagam

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Mathuranthagam, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted in accordance with government regulations.

It is essential for buyers and sellers to be aware of the current guideline value in their area, as it directly impacts the costs associated with property registration. Understanding these values can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Gokulam Nagar?

The current guideline value of Gokulam Nagar is Rs 555 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 80 per sq.ft in 2007 to Rs 555 per sq.ft in 2024, reflecting an overall increase of 594% since 2007.

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

For a property valued at Rs 5,55,000, the stamp duty would be Rs 38,850 and the registration fee would be Rs 11,100, totaling Rs 49,950.

Which office handles property registrations in Gokulam Nagar?

The Madurandakam Sub Registrar Office handles property registrations in Gokulam Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

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

The guideline value is used to determine the minimum registration value for properties, impacting the stamp duty and registration fees that buyers and sellers must pay during transactions.