Guideline Value for GOPALA KRISHNA NAGAR EXTENSION

Gopala Krishna Nagar Extension guideline value

The current guideline value for Gopala Krishna Nagar Extension is Rs 2,100 per sq.ft. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Gopala Krishna Nagar Extension has changed

The guideline value for Gopala Krishna Nagar Extension has seen significant changes over the years. In 2007, the value was Rs 400 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. This marked a substantial increase of 400%. The value remained unchanged at Rs 2,000 per sq.ft until the 2023 revision, which set it at Rs 2,100 per sq.ft, a 5% increase.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 425%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Gopala Krishna Nagar Extension's 2024 figure below this median.

• Gopala Krishna Nagar: Rs 2,100 per sq.ft (2024)
• Golden Nagar: Rs 2,900 per sq.ft (2024)
• Govindraj Nagar: Rs 1,600 per sq.ft (2024)
• G.P.S Nagar: Rs 1,300 per sq.ft (2024)
• Gramani Street (Thanthankuppam): Rs 1,600 per sq.ft (2024)
• Gayathri Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gopala Krishna Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total to Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Gopala Krishna Nagar Extension?

The Gopala Krishna Nagar Extension falls under 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 Korattur

The guideline value is an essential factor during the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in the official register. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Gopala Krishna Nagar Extension?

The current guideline value of Gopala Krishna Nagar Extension is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 2,100 per sq.ft in 2024, marking a total increase of 425% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000 and the registration fee would be Rs 42,000, totaling Rs 1,89,000.

Which office handles property registrations in Gopala Krishna Nagar Extension?

The Villivakkam Sub Registrar Office handles property registrations for Gopala Krishna Nagar Extension, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Gopala Krishna Nagar Extension?

Gopala Krishna Nagar Extension is classified as Residential Class III Type - I, indicating its designation for residential use.