Guideline Value for GOPAL NAIDU STREET

Gopal Naidu Street guideline value

The current guideline value of Gopal Naidu Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village and falls under the Walajabad SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Gopal Naidu Street has changed

The guideline value for Gopal Naidu Street has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, this value dropped to Rs 804 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,200 per sq.ft, which remains unchanged in the 2024 revision.

Between the revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 500%. The value then decreased by 33% from 2012 to 2017. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft. Gopal Naidu Street's 2024 guideline value is above this median.

• Gopal Naidu Santhu Street: Rs 1,200 per sq.ft (2024)
• Gengai Vinayagar Kovil St: Rs 750 per sq.ft (2024)
• Gengai Amman Kovil St: Rs 750 per sq.ft (2024)
• Indara Nager New Colony: Rs 750 per sq.ft (2024)
• INDIRA NAGAR-1st -ST: Rs 750 per sq.ft (2024)
• INDIRA NAGAR-2st -ST: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Naidu Street

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value would be Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. 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 more details.

Which Sub Registrar Office covers Gopal Naidu Street?

The Sub Registrar Office that covers Gopal Naidu Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Walajabad. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties and fees. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Gopal Naidu Street?

The current guideline value of Gopal Naidu Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several changes, with the most recent revisions showing a value of Rs 1,200 per sq.ft for both 2023 and 2024. Notably, it increased from Rs 200 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017.

What is the land classification for Gopal Naidu Street?

Gopal Naidu Street is classified as Residential Special Type - II, indicating its suitability for residential purposes within the area.

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

The Sub Registrar Office for Gopal Naidu Street is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. This office handles all registration-related processes for the area.

How is the stamp duty calculated for properties in Gopal Naidu Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 1,08,000 in duties and fees.