Guideline Value for GOPAL NAGAR CROSS STREET

Gopal Nagar Cross Street guideline value

The current guideline value of Gopal Nagar Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Gopal Nagar Cross Street has changed

The guideline value for Gopal Nagar Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from Rs 1,005 per sq.ft in 2017. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest 2024 revision raised it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

Pallikaranai village has 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the guideline value of Gopal Nagar Cross Street for 2024.

• Gopal Nagar Extension: Rs 1,650 per sq.ft (2024)
• Gopal Nagar S.Kolathur Road: Rs 1,650 per sq.ft (2024)
• Gopal Nagar: Rs 1,650 per sq.ft (2024)
• Govindan Street: Rs 1,320 per sq.ft (2024)
• Govindasamy Avenue: Rs 1,320 per sq.ft (2024)
• Govindasamy Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Nagar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 further calculations.

Which Sub Registrar Office covers Gopal Nagar Cross Street?

The Sub Registrar Office that covers Gopal Nagar Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees that are payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of the costs involved in the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Gopal Nagar Cross Street?

The current guideline value of Gopal Nagar Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, an increase of 10%. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012, showing significant changes over the years.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, which is the same as the current guideline value for Gopal Nagar Cross Street.

Where can I find the Sub Registrar Office for Gopal Nagar Cross Street?

The Sub Registrar Office for Gopal Nagar Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000.