Guideline Value for GOPULA KRISHNA NAGAR (TAI)

Gopula Krishna Nagar (Tai) guideline value

The current guideline value of Gopula Krishna Nagar (Tai) is Rs 880 per sq.ft, effective from 1 July 2024. This locality is situated in Vallancheri village under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Gopula Krishna Nagar (Tai) has changed

Over the years, the guideline value for Gopula Krishna Nagar (Tai) has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 536 per sq.ft. The value then increased significantly to Rs 800 per sq.ft in 2023, and the most recent revision in 2024 raised it further to Rs 880 per sq.ft.

Between the 2023 and 2024 revisions, there was a 10% increase. From 2017 to 2023, the guideline value rose by 49%, while the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft as of 2024. The median value for these streets is Rs 825 per sq.ft, placing Gopula Krishna Nagar (Tai) above this median.

• Gokulam Colony (Ward-20): Rs 880 per sq.ft (2024)
• G.S.T. Road Chamundeeswari (Ward-21): Rs 2,200 per sq.ft (2024)
• Gst Road Potheri (Ward-20): Rs 2,200 per sq.ft (2024)
• G.S.T Road Thailavaram (Ward-21): Rs 2,200 per sq.ft (2024)
• G.S.T.Road (Ward -1): Rs 2,200 per sq.ft (2024)
• Gurusamy Street (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Gopula Krishna Nagar (Tai)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty, charged at 7%, would be Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, the total cost for stamp duty and registration would be Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopula Krishna Nagar (Tai)?

The Sub Registrar Office that covers Gopula Krishna Nagar (Tai) is 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 Vallancheri

The guideline value is a crucial factor during property transactions in Vallancheri. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the applicable stamp duty and registration fees.

At the time of registration, the stamp duty is calculated based on the higher of the guideline value or the actual sale price of the property. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gopula Krishna Nagar (Tai)?

The current guideline value of Gopula Krishna Nagar (Tai) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024. The value has also seen fluctuations, such as a decrease from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017.

What is the land classification of Gopula Krishna Nagar (Tai)?

Gopula Krishna Nagar (Tai) is classified as Residential Class I Type - II. This classification is important for determining the usage and regulation of properties in the area.

What are the stamp duty rates for properties in Gopula Krishna Nagar (Tai)?

The stamp duty for properties in Gopula Krishna Nagar (Tai) is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Gopula Krishna Nagar (Tai)?

The Sub Registrar Office for Gopula Krishna Nagar (Tai) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO online.