Guideline Value for Gokul Nagar

Gokul Nagar guideline value

The current guideline value of Gokul Nagar, located in Vilangadupakkam village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Gokul Nagar has changed

Over the years, the guideline value of Gokul Nagar has seen several revisions. Starting from the 2007 revision, the guideline value was Rs 300 per sq.ft. It increased to Rs 500 per sq.ft in 2012, marking a 67% rise. However, this was followed by a decrease to Rs 335 per sq.ft in 2017, which represented a 33% drop. The value then rose significantly to Rs 500 per sq.ft in 2023, and currently stands at Rs 550 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

The revisions for the years 2002 and 2003 do not have figures available for Gokul Nagar in the register. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft, with a median value of Rs 440 per sq.ft. Gokul Nagar's 2024 guideline value is above this median.

• Gomathiamman Nagar: Rs 440 per sq.ft (2024)
• Gomathiamman Nagar Annex - 10: Rs 440 per sq.ft (2024)
• Gomathiamman Nagar Annex 6 Extention: Rs 440 per sq.ft (2024)
• Gomathiamman Nagar Annex 9 Extention: Rs 440 per sq.ft (2024)
• Gomathi Amman Nagar Annex III: Rs 440 per sq.ft (2024)
• Gomathi Amman Nagar Annex IV: Rs 440 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to 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 details.

Which Sub Registrar Office covers Gokul Nagar?

The Sub Registrar Office that covers Gokul Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Vilangadupakkam. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gokul Nagar?

The current guideline value of Gokul Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 83% over this period.

What is the land classification of Gokul Nagar?

Gokul Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for Gokul Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Where is the Sub Registrar Office for Gokul Nagar located?

The Sub Registrar Office for Gokul Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.