Guideline Value for GOPAL GARDEN STREET

Gopal Garden Street guideline value

The current guideline value of Gopal Garden Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Gopal Garden Street has changed

The guideline value for Gopal Garden Street has seen several revisions over the years. In the 2012 revision, the value was Rs 4,600 per sq.ft, which then decreased to Rs 3,082 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 4,600 per sq.ft in the 2023 revision, and now stands at Rs 5,000 per sq.ft as per the 2024 revision.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. The change from 2023 to 2024 reflects a rise of 9%. Overall, from the 2012 revision to the current 2024 figure, the guideline value has increased by 9%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, indicating that Gopal Garden Street's 2024 figure is below the median.

• Indian Bank Colony: Rs 4,400 per sq.ft (2024)
• Gandhi Street (Near Janakiram Colony Extn): Rs 5,300 per sq.ft (2024)
• Indira Gandhi Street: Rs 4,700 per sq.ft (2024)
• Gandhi Road: Rs 6,000 per sq.ft (2024)
• Indirani Cross Street: Rs 5,300 per sq.ft (2024)
• Gandhi Nagar (Panjaliamman Koil Inside): Rs 5,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Garden Street

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopal Garden Street?

The Sub Registrar Office that covers Gopal Garden Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Arumbakkam. It determines the minimum value at which a property can be registered and is used to calculate applicable stamp duty and registration fees.

When you proceed with a property transaction, the guideline value ensures that the property is valued fairly for taxation purposes. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Gopal Garden Street?

The current guideline value of Gopal Garden Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,600 per sq.ft in 2012 to Rs 3,082 per sq.ft in 2017, then increased to Rs 4,600 per sq.ft in 2023, and is now Rs 5,000 per sq.ft in 2024.

What is the land classification for Gopal Garden Street?

Gopal Garden Street is classified as Residential Class III Type - I.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Gopal Garden Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 50,00,000 would incur a stamp duty of Rs 3,50,000 at a rate of 7%.