Guideline Value for Gokul Nagar

Gokul Nagar guideline value

The current guideline value of Gokul Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class V Type - I.

How the guideline value of Gokul Nagar has changed

The guideline value for Gokul Nagar has undergone several revisions over the years. In 2002, the value was Rs 126 per sq.ft, which increased to Rs 150 per sq.ft in 2003, marking a 19% rise. The value further increased to Rs 200 per sq.ft in 2007, a growth of 33%. By 2012, the value reached Rs 900 per sq.ft, representing a significant increase of 350% from the previous revision. However, in 2017, the value dropped to Rs 603 per sq.ft, reflecting a decrease of 33%.

The most recent revision in 2024 set the guideline value at Rs 990 per sq.ft, an increase of 64% from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 686%. Notably, there is no figure for Gokul Nagar in the 2023 revision.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that Gokul Nagar's 2024 figure is below the median.

• Golden Avenue: Rs 2,400 per sq.ft (2024)
• Gnanavoli Puram: Rs 2,400 per sq.ft (2024)
• Gnana Olipuram 3rd Street: Rs 2,400 per sq.ft (2024)
• Gnana Olipuram 2nd Street: Rs 2,400 per sq.ft (2024)
• Gnana Olipuram 1st Street: Rs 2,400 per sq.ft (2024)
• Gopal Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gokul Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gokul Nagar?

The Sub Registrar Office that covers Gokul Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable duties and fees. This ensures that the transaction is compliant with legal requirements and reflects the property's value as determined by the government.

Frequently asked questions

What is the current guideline value of Gokul Nagar?

The current guideline value of Gokul Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 126 per sq.ft to Rs 990 per sq.ft in 2024, showing a significant overall increase of 686% over the years.

What is the registration fee for property in Gokul Nagar?

The registration fee is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,90,000, the registration fee would be Rs 19,800 at 2%.

Which office handles property registrations in Gokul Nagar?

The Ambattur Sub Registrar Office handles property registrations for Gokul Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

What is the significance of the guideline value?

The guideline value is used to determine the minimum value for property registration, ensuring that the appropriate stamp duty and registration fees are collected. It reflects the government's valuation of the property based on various factors.