Guideline Value for GOPALA KRISHNA NAGAR

Gopala Krishna Nagar guideline value

The current guideline value of Gopala Krishna Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this street is Residential Class III Type - I.

How the guideline value of Gopala Krishna Nagar has changed

Starting from the oldest revision, the guideline value was Rs 400 per sq.ft in 2007. This figure saw a significant increase to Rs 2,000 per sq.ft in 2012, marking a change of +400%. The guideline value remained at Rs 2,000 per sq.ft through the 2023 revision, which did not see any change. In 2024, the guideline value was revised to Rs 2,100 per sq.ft, reflecting a +5% increase from the previous year.

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

Guideline values in Korattur

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

• Gopala Krishna Nagar Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would amount to Rs 1,47,000, and the registration fee at 2% would be Rs 42,000. Together, the total cost for these fees would be Rs 1,89,000. It is important to note that 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 Gopala Krishna Nagar?

The Sub Registrar Office that covers Gopala Krishna Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property in Korattur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When you are purchasing property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Gopala Krishna Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of +425% over the years.

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

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 registration in Gopala Krishna Nagar?

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

What is the land classification for Gopala Krishna Nagar?

The land classification for Gopala Krishna Nagar is Residential Class III Type - I.