Guideline Value for GOPALA MENON STREET

Gopala Menon Street guideline value

The current guideline value of Gopala Menon Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Gopala Menon Street has changed

In the 2007 revision, the guideline value was Rs 2,600 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in the 2012 revision, marking a rise of 131%. However, in the 2017 revision, the value decreased to Rs 4,020 per sq.ft, a drop of 33%. The 2023 revision saw a substantial increase to Rs 6,000 per sq.ft, followed by an 8% rise to the current value of Rs 6,500 per sq.ft in 2024.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 150%. The register has no figures for Gopala Menon Street for the years 2002 and 2003.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Gopala Menon Street's 2024 figure above this median.

• Govinda Achari Street: Rs 5,500 per sq.ft (2024)
• Govinda Naicken Street: Rs 5,500 per sq.ft (2024)
• Grama Street: Rs 5,500 per sq.ft (2024)
• Gantz Road: Rs 5,500 per sq.ft (2024)
• Haji Mohammed Abdul Hafeez Abbab Sahib Street: Rs 4,900 per sq.ft (2024)
• Hanumantharayan Koil 1st Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gopala Menon Street

For a 1,000 sq.ft plot at the current rate of Rs 6,500 per sq.ft, the guideline value amounts to Rs 65,00,000. The stamp duty at 7% would be Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, totaling Rs 5,85,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopala Menon Street?

The Sub Registrar Office that covers Gopala Menon Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees payable during the sale or purchase of a property.

When a property is registered, the duty is assessed based on the higher of the guideline value or the sale price. This ensures that the fees reflect the actual value of the property being transacted.

Frequently asked questions

What is the current guideline value of Gopala Menon Street?

The current guideline value of Gopala Menon Street is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,600 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, marking an overall increase of 150% over this period.

What is the land classification for Gopala Menon Street?

Gopala Menon Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for properties in Gopala Menon Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would be Rs 5,85,000, calculated based on the guideline value of Rs 65,00,000.

Where can I find the Sub Registrar Office for Gopala Menon Street?

The Sub Registrar Office for Gopala Menon Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.