Guideline Value for GOPU SALAI

Gopu Salai guideline value

The current guideline value of Gopu Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Gopu Salai has changed

The guideline value for Gopu Salai has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value rose significantly to Rs 2,000 per sq.ft in 2023, and further increased to Rs 2,200 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Gopu Salai.

• Gowslya Nagar: Rs 2,750 per sq.ft (2024)
• Goldan Avenue: Rs 1,980 per sq.ft (2024)
• Gayathri Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Gopu Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. 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 precise calculations.

Which Sub Registrar Office covers Gopu Salai?

The Sub Registrar Office that covers Gopu Salai is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is crucial when registering property transactions in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process.

Frequently asked questions

What is the current guideline value of Gopu Salai?

The current guideline value of Gopu Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Gopu Salai?

Gopu Salai is classified as Residential Class I Type - I under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Gopu Salai located?

The Sub Registrar Office for Gopu Salai is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.