Guideline Value for GOPALAKRISHNAN STREET

Gopalakrishnan Street guideline value

The current guideline value of Gopalakrishnan Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Thiruvancheri village under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Gopalakrishnan Street has changed

In the 2012 revision, the guideline value was set at Rs 1,800 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased to Rs 1,500 per sq.ft in the 2023 revision, reflecting a growth of 24%. The most recent revision in 2024 saw the guideline value rise significantly to Rs 1,980 per sq.ft, which is an increase of 32% from the previous year.

There are no recorded figures for Gopalakrishnan Street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, which is equal to the current guideline value of Gopalakrishnan Street.

• Govindaraj Street: Rs 1,100 per sq.ft (2024)
• Gandhi Street: Rs 1,100 per sq.ft (2024)
• Irataimalai Srinivasan Street: Rs 1,980 per sq.ft (2024)
• E.V.R.Street: Rs 1,980 per sq.ft (2024)
• ESIC Nagar: Rs 2,530 per sq.ft (2024)
• Iyyanar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Gopalakrishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. Please note that 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 further calculations.

Which Sub Registrar Office covers Gopalakrishnan Street?

The Sub Registrar Office that covers Gopalakrishnan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Thiruvancheri. It is used to calculate the stamp duty and registration fees payable when a property is bought or sold. The guideline value serves as a basis for the official valuation of the property, ensuring that the transaction is recorded accurately.

When registering a property, the guideline value helps determine the legal fees and taxes involved in the transaction. This ensures transparency and compliance with local regulations, protecting both buyers and sellers in the property market.

Frequently asked questions

What is the current guideline value of Gopalakrishnan Street?

The current guideline value of Gopalakrishnan Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024, a rise of 32%. The value has overall increased by 10% from 2012 to 2024.

Which Sub Registrar Office should I visit for transactions on Gopalakrishnan Street?

The Pallavaram Sub Registrar Office is responsible for transactions involving Gopalakrishnan Street. It is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

How can I calculate the total cost for buying property in Gopalakrishnan Street?

You can calculate the total cost by determining the guideline value based on the size of the property, then applying the stamp duty and registration fees. A calculator is available online to assist with these calculations.