Guideline Value for GOTHANDARAMAN NAGAR

Gothandaraman Nagar guideline value

The current guideline value of Gothandaraman Nagar is Rs 4,000 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village under the Selaiyur SRO, classified as Mixed Type - I land.

How the guideline value of Gothandaraman Nagar has changed

The guideline value for Gothandaraman Nagar has seen several revisions over the years. The most recent revision, effective from 1 July 2024, sets the value at Rs 4,000 per sq.ft. Prior to this, the 2023 revision recorded a value of Rs 3,750 per sq.ft, marking a 7% increase. The 2017 revision was significantly lower at Rs 2,512 per sq.ft, which means there has been a total increase of 59% from 2017 to 2024.

There are no figures available for the revisions in 2012, 2007, 2003, and 2002 for this street. However, the 2017 to 2023 period saw a substantial increase of 49% in the guideline value.

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 guideline value for these streets is Rs 2,700 per sq.ft, placing Gothandaraman Nagar's current value above this median.

• Gopalapuram: Rs 3,350 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)
• G.V.Nagar: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gothandaraman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000. Together, the total cost for stamp duty and registration fees would be Rs 3,60,000. 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 details.

Which Sub Registrar Office covers Gothandaraman Nagar?

The Gothandaraman Nagar area is covered by 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 information.

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

The guideline value is a crucial factor when buying or selling property in Vengaivasal. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable at the time of the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately in the official register. This value is essential for both buyers and sellers to understand the financial implications of the registration process.

Frequently asked questions

What is the current guideline value of Gothandaraman Nagar?

The current guideline value of Gothandaraman Nagar is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,512 per sq.ft to Rs 4,000 per sq.ft in 2024, reflecting a total increase of 59% over this period.

What are the stamp duty rates for property transactions in Gothandaraman Nagar?

The stamp duty rate for property transactions in Gothandaraman Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office should I contact for Gothandaraman Nagar?

The Selaiyur Sub Registrar Office covers Gothandaraman Nagar. It is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the significance of the guideline value in property transactions?

The guideline value serves as the minimum value for property registration and is used to calculate applicable stamp duty and registration fees. It ensures that property transactions are recorded accurately in the official register.