Guideline Value for GOPALAPURAM

Gopalapuram guideline value

The current guideline value for Gopalapuram, located in Vengaivasal village under the Selaiyur SRO, is Rs 3,350 per sq.ft, effective from 1 July 2024. The land classification for this area is Industries Special Type - II.

How the guideline value of Gopalapuram has changed

Over the years, the guideline value of Gopalapuram has seen significant revisions. The 2017 revision set the value at Rs 2,080 per sq.ft. This increased to Rs 3,105 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 3,350 per sq.ft, which is an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Gopalapuram's 2024 figure above this median.

• Gothandaraman Nagar: Rs 4,000 per sq.ft (2024)
• Glory Nagar: Rs 2,400 per sq.ft (2024)
• G.D Nagar: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar: Rs 3,300 per sq.ft (2024)
• Garden Homes: Rs 2,700 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gopalapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,350 per sq.ft, the total guideline value amounts to Rs 33,50,000. The stamp duty at 7% would be Rs 2,34,500, and the registration fee at 2% would be Rs 67,000, bringing the total costs together to Rs 3,01,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gopalapuram?

The Sub Registrar Office that covers Gopalapuram is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Vengaivasal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for each area.

Frequently asked questions

What is the current guideline value of Gopalapuram?

The current guideline value of Gopalapuram is Rs 3,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,080 per sq.ft in 2017 to Rs 3,350 per sq.ft in 2024, marking an overall increase of 61% over this period.

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

For a property valued at Rs 33,50,000, the stamp duty at 7% would be Rs 2,34,500, and the registration fee at 2% would be Rs 67,000, totaling Rs 3,01,500.

Which Sub Registrar Office is responsible for Gopalapuram?

The Selaiyur Sub Registrar Office is responsible for Gopalapuram, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value of a property, impacting the stamp duty and registration fees during transactions. Buyers and sellers must refer to this value for compliance with local regulations.