Guideline Value for Gokul Nagar 3rd Street

Gokul Nagar 3rd Street guideline value

The current guideline value for Gokul Nagar 3rd Street is Rs 2,700 per sq.ft. This street is located in Rajakilpakkam village, under the Selaiyur SRO, with a land classification of Residential Special Type - I.

How the guideline value of Gokul Nagar 3rd Street has changed

The guideline value for Gokul Nagar 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and finally, it has risen to Rs 2,700 per sq.ft in the 2024 revision, effective from 1 July 2024.

In terms of percentage changes, the guideline value increased by 8% from 2023 to 2024. There was a significant increase of 49% from 2017 to 2023. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value among these streets is Rs 2,150 per sq.ft, making Gokul Nagar 3rd Street's 2024 figure above that median.

• Gokul Nagar: Rs 2,700 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Ganesh Nagar Thiruvalluvar Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar Rajaji Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar Nethaji Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gokul Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gokul Nagar 3rd Street?

The Sub Registrar Office that covers Gokul Nagar 3rd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value in accordance with government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the registration process. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Gokul Nagar 3rd Street?

The current guideline value of Gokul Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Gokul Nagar 3rd Street?

The land classification for Gokul Nagar 3rd Street is Residential Special Type - I.

Where is the Selaiyur Sub Registrar Office located?

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

How is stamp duty calculated based on guideline value?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.