Guideline Value for GOPAL NAGAR

Gopal Nagar guideline value

The current guideline value of Gopal Nagar, located in Perungalathur village under the Padappai SRO, is Rs 2,970 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Gopal Nagar has changed

The guideline value for Gopal Nagar has seen significant changes over the years. The most recent revision in 2024 set the value at Rs 2,970 per sq.ft, which is an increase from Rs 2,700 per sq.ft in the 2023 revision, marking a rise of 10%. Looking back further, the value was Rs 1,809 per sq.ft in 2017, indicating a substantial increase of 49% to the 2023 figure. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that there are no figures available for Gopal Nagar in the revisions from 2002, 2003, 2007, and 2012. This lack of data means that the most relevant figures for understanding the guideline value are from 2017, 2023, and the current 2024 revision.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Gopal Nagar's 2024 figure above this median.

• Good Will Nagar Extension: Rs 2,310 per sq.ft (2024)
• Good Will Nagar: Rs 2,310 per sq.ft (2024)
• Gokulam Apartments: Rs 2,310 per sq.ft (2024)
• George Theru: Rs 1,980 per sq.ft (2024)
• Harijon's Colony: Rs 1,650 per sq.ft (2024)
• Haritha Enclave (M.S.): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Nagar

For a 1,000 sq.ft plot in Gopal Nagar at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total fees to Rs 2,67,300. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopal Nagar?

The Sub Registrar Office that covers Gopal Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is documented at a price that reflects the current market conditions as set by the Registration Department. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gopal Nagar?

The current guideline value of Gopal Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,809 per sq.ft to Rs 2,970 per sq.ft in 2024, marking an overall rise of 64%.

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

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which office handles registrations for Gopal Nagar?

The Padappai Sub Registrar Office handles registrations for Gopal Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value is essential for calculating stamp duty and registration fees during property transactions. It ensures that the transaction is documented at a price that reflects the current market conditions as set by the Registration Department.