Guideline Value for Gokul Nagar 40 Feet Road

Gokul Nagar 40 Feet Road guideline value

The current guideline value of Gokul Nagar 40 Feet Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Gokul Nagar 40 Feet Road has changed

The guideline value for Gokul Nagar 40 Feet Road has seen several revisions over the years. The earliest available figure is from 2012, when the guideline value was Rs 3,000 per sq.ft. This remained unchanged until the 2017 revision, which decreased the value to Rs 2,010 per sq.ft. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, the changes were notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 and 2024 figures, there has been a 10% increase over the years. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, 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. The median guideline value for these streets is Rs 2,725 per sq.ft, placing Gokul Nagar 40 Feet Road above this median.

• Gokul Nagar 1st to 5th Cross street: 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 40 Feet Road

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

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

Which Sub Registrar Office covers Gokul Nagar 40 Feet Road?

The Gokul Nagar 40 Feet Road falls under 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 plays a crucial role in the registration process of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Gokul Nagar 40 Feet Road?

The current guideline value of Gokul Nagar 40 Feet Road 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Gokul Nagar 40 Feet Road?

Gokul Nagar 40 Feet Road is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

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 the stamp duty calculated for properties in Gokul Nagar 40 Feet Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.