Guideline Value for Gogul Nagar

Gogul Nagar guideline value

The current guideline value of Gogul Nagar, located in Varadarajapuram village, under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Gogul Nagar has changed

The guideline value for Gogul Nagar has seen significant changes over the years. In 2007, the value was Rs 150 per sq.ft, which increased dramatically to Rs 1,200 per sq.ft in 2012, marking a 700% rise. However, it then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft following a 10% increase in 2024.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, indicating that Gogul Nagar's 2024 figure is below this median.

• Gomathi Nagar: Rs 1,650 per sq.ft (2024)
• Girija Nagar: Rs 990 per sq.ft (2024)
• Gopal Nagar: Rs 1,320 per sq.ft (2024)
• Garden City Extension: Rs 1,100 per sq.ft (2024)
• Garden City: Rs 1,100 per sq.ft (2024)
• G.R.Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gogul Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Please 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 detailed calculations.

Which Sub Registrar Office covers Gogul Nagar?

The Sub Registrar Office that covers Gogul Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai. To find more information, you can find your SRO.

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

The guideline value is an important factor when registering property transactions in Varadarajapuram. It is used to determine the stamp duty and registration fees that are applicable at the time of the transaction.

When a buyer or seller engages in a property transaction, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gogul Nagar?

The current guideline value of Gogul Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

What is the median guideline value in Varadarajapuram?

The median guideline value in Varadarajapuram is Rs 1,650 per sq.ft, with Gogul Nagar's current value being below this median.

What fees apply when registering property in Gogul Nagar?

When registering property in Gogul Nagar, a stamp duty of 7% and a registration fee of 2% are applicable based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Gogul Nagar?

The Sub Registrar Office for Gogul Nagar is located at Padappai Sub Registrar Office, 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai.