Guideline Value for GOPALASAMY NAGAR

Gopalasamy Nagar guideline value

The current guideline value of Gopalasamy Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Ammanambakkam village, under the Chengleput Joint II SRO, and is classified as Mixed Special Type - II.

How the guideline value of Gopalasamy Nagar has changed

The guideline value for Gopalasamy Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the subsequent revisions of 2017 and 2023. The 2017 revision recorded a value of Rs 335 per sq.ft, showing a decrease of 33% from the 2012 figure. However, the value increased by 49% to Rs 500 per sq.ft in 2023 and has remained the same in the 2024 revision, indicating no change from the previous year.

The register has no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 500 per sq.ft.

Guideline values in Ammanambakkam

In Ammanambakkam, there are 16 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 900 per sq.ft, with a median value of Rs 500 per sq.ft. Gopalasamy Nagar's 2024 figure is equal to this median.

• Ganesh Nagar: Rs 500 per sq.ft (2024)
• Ilango Nagar: Rs 500 per sq.ft (2024)
• Jayam Nagar: Rs 501 per sq.ft (2024)
• Kamaraj Nagar: Rs 850 per sq.ft (2024)
• Lake City: Rs 500 per sq.ft (2024)
• Abi Akshya Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Gopalasamy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopalasamy Nagar?

The Gopalasamy Nagar area falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ammanambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gopalasamy Nagar?

The current guideline value of Gopalasamy Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a decrease to Rs 335 per sq.ft in 2017, followed by an increase back to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of Gopalasamy Nagar?

Gopalasamy Nagar is classified as Mixed Special Type - II, which influences its guideline value and property usage.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 5,00,000, the total fees would amount to Rs 45,000.

Which office handles property registration for Gopalasamy Nagar?

The Chengleput Joint II Sub Registrar Office at 10, Kancheepuram Main Road, Chengalpattu 603 002, is responsible for property registration in Gopalasamy Nagar.