Guideline Value for GOPAL NAGAR EXTENSION

Gopal Nagar Extension guideline value

The current guideline value for Gopal Nagar Extension is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification is Residential Class IV Type - I.

How the guideline value of Gopal Nagar Extension has changed

The guideline value for Gopal Nagar Extension has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. However, from 2017 to the current 2024 revision, the guideline value increased significantly to Rs 1,650 per sq.ft, marking a 64% rise. The overall change from 2012 to 2024 reflects a modest increase of 10%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street. The 2012 revision showed a decrease of 33% from the previous value in 2012 to 2017.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO carrying a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft, with the median being Rs 1,650 per sq.ft. Gopal Nagar Extension's guideline value matches this median.

• Gopal Nagar Cross Street: 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 Extension

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, bringing the total fees together to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopal Nagar Extension?

The Sub Registrar Office covering Gopal Nagar Extension 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 is a critical factor when registering property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees are calculated fairly based on this set value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Gopal Nagar Extension?

The current guideline value of Gopal Nagar Extension 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 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,650 per sq.ft in 2024, marking a 64% increase from 2017.

What are the stamp duty and registration fees for properties in Gopal Nagar Extension?

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, totaling Rs 1,48,500.

Which office handles property registrations in Gopal Nagar Extension?

The Chennai South Joint I Sub Registrar Office handles property registrations for Gopal Nagar Extension, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Gopal Nagar Extension?

The land classification for Gopal Nagar Extension is Residential Class IV Type - I.