Guideline Value for Gokul Nagar 1st to 5th Cross street

Gokul Nagar 1st to 5th Cross street guideline value

The current guideline value for Gokul Nagar 1st to 5th Cross street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Gokul Nagar 1st to 5th Cross street has changed

The guideline value for Gokul Nagar 1st to 5th Cross street has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged until 2017, when it dropped to Rs 2,010 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,000 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, which is a 10% rise from the previous year’s figure of Rs 3,000 per sq.ft.

It is important to note that the register has no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perumbakkam

In Perumbakkam village, there are 225 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. Gokul Nagar 1st to 5th Cross street’s 2024 guideline value of Rs 3,300 per sq.ft is above this median.

• Gokul Nagar 40 Feet Road: Rs 3,300 per sq.ft (2024)
• Gokul Nagar: Rs 3,300 per sq.ft (2024)
• Golden Castle: Rs 2,725 per sq.ft (2024)
• Global Avenue: Rs 3,800 per sq.ft (2024)
• Gengaiamman Koil Street: Rs 850 per sq.ft (2024)
• Gurudev Colony: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Gokul Nagar 1st to 5th Cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that stamp duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gokul Nagar 1st to 5th Cross street?

The Gokul Nagar 1st to 5th Cross street 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 Perumbakkam

The guideline value is a critical factor in property transactions in Perumbakkam. It serves as a benchmark for determining the minimum sale price of properties and is used to calculate the stamp duty and registration fees during the registration process.

When buying or selling property, it is essential to be aware of the current guideline value, as it can impact the overall costs associated with the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Gokul Nagar 1st to 5th Cross street?

The current guideline value for Gokul Nagar 1st to 5th Cross street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Gokul Nagar 1st to 5th Cross street?

The land classification for Gokul Nagar 1st to 5th Cross street is Residential Special Type - II.

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

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

How is the stamp duty calculated for property in Gokul Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.