Guideline Value for GOPAL NAGAR S.KOLATHUR ROAD

Gopal Nagar S.Kolathur Road guideline value

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

How the guideline value of Gopal Nagar S.Kolathur Road has changed

The guideline value for Gopal Nagar S.Kolathur Road has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 1,650 per sq.ft, reflecting a rise of 64%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street. Therefore, only the revisions from 2012, 2017, and 2024 are applicable for Gopal Nagar S.Kolathur Road.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current guideline value for Gopal Nagar S.Kolathur Road.

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

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 amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, totaling 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopal Nagar S.Kolathur Road?

The Sub Registrar Office that covers Gopal Nagar S.Kolathur Road is the Chennai South Joint I Sub Registrar Office. The address is Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property based on current market conditions. It is essential for buyers and sellers to be aware of the guideline value to avoid disputes during the registration process.

Frequently asked questions

What is the current guideline value of Gopal Nagar S.Kolathur Road?

The current guideline value of Gopal Nagar S.Kolathur Road 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, then increased to Rs 1,650 per sq.ft in 2024. This represents a 10% overall increase from 2012 to 2024.

What is the land classification for Gopal Nagar S.Kolathur Road?

The land classification for Gopal Nagar S.Kolathur Road is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Gopal Nagar S.Kolathur Road?

The Sub Registrar Office for Gopal Nagar S.Kolathur Road 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 is the stamp duty calculated for properties in Gopal Nagar S.Kolathur Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.