Guideline Value for GOPAL NAIDU NAGAR (G.N.NAGAR)

Gopal Naidu Nagar (G.N.Nagar) guideline value

The current guideline value of Gopal Naidu Nagar (G.N.Nagar) is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Padi village under the Villivakkam SRO and is classified as Residential Class IV Type - III.

How the guideline value of Gopal Naidu Nagar (G.N.Nagar) has changed

The guideline value for Gopal Naidu Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 251 per sq.ft, which increased to Rs 285 per sq.ft in 2003. The value rose significantly to Rs 850 per sq.ft in 2007, followed by a jump to Rs 2,700 per sq.ft in 2012. However, there was a decrease to Rs 1,809 per sq.ft in 2017. The value then increased to Rs 2,700 per sq.ft in 2023, and is currently set at Rs 2,800 per sq.ft from the 2024 revision.

Analyzing the changes, from 2017 to 2023, there was a notable increase of 49%. The 2012 to 2017 period saw a decrease of 33%. The jump from 2007 to 2012 was substantial at 218%, and the increase from 2003 to 2007 was 198%. Overall, from 2002 to 2024, the guideline value has increased by 1,016%.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Gopal Naidu Nagar's 2024 figure below this median.

• GOODWILL APPARTMENTS (Mogappir Road): Rs 9,900 per sq.ft (2024)
• GOLDEN JUBLIEE APPARTMENTS (Padikuppam Road): Rs 6,600 per sq.ft (2024)
• Gem Flats (Mogappair Road): Rs 9,900 per sq.ft (2024)
• Geethanjali Flats (7th Avenue): Rs 13,100 per sq.ft (2024)
• I.C.C.Plots: Rs 8,200 per sq.ft (2024)
• Imayam Colony: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Naidu Nagar (G.N.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopal Naidu Nagar (G.N.Nagar)?

The Gopal Naidu Nagar (G.N.Nagar) area is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the registration office will consider the guideline value to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gopal Naidu Nagar (G.N.Nagar)?

The current guideline value of Gopal Naidu Nagar (G.N.Nagar) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 251 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 1,016% over the years.

What are the other streets in Padi with their guideline values?

Other streets in Padi include GOODWILL APPARTMENTS at Rs 9,900 per sq.ft, GOLDEN JUBLIEE APPARTMENTS at Rs 6,600 per sq.ft, and Geethanjali Flats at Rs 13,100 per sq.ft, among others.

What is the registration fee for properties in Gopal Naidu Nagar?

The registration fee is calculated based on the guideline value, which is currently Rs 2,800 per sq.ft. For a 1,000 sq.ft plot, the total registration fee would be Rs 56,000.

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

The Villivakkam Sub Registrar Office covers Gopal Naidu Nagar and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.