Guideline Value for Gokul Nagar

Gokul Nagar guideline value

The current guideline value of Gokul Nagar, located in Zaminpallavaram village, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office and is classified as Residential Class I Type - II.

How the guideline value of Gokul Nagar has changed

The guideline value of Gokul Nagar has seen several revisions over the years. In 2003, the value was Rs 185 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a 224% rise. The value then saw a substantial jump to Rs 3,000 per sq.ft in 2012, reflecting a 400% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, which was a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, followed by the current rate of Rs 3,300 per sq.ft in 2024, marking a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1684%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Gokul Nagar.

• Godwin Dasan Street: Rs 2,160 per sq.ft (2024)
• Godhandan Nagar Section: Rs 3,520 per sq.ft (2024)
• Godhandan Nagar 4th Street: Rs 3,520 per sq.ft (2024)
• Godhandan Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Godhandan Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Godhandan Nagar 1st Street: Rs 3,520 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total fees to 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 information.

Which Sub Registrar Office covers Gokul Nagar?

The Gokul Nagar area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gokul Nagar?

The current guideline value of Gokul Nagar 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 significantly from Rs 185 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1684% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Gokul Nagar?

The Pallavaram Sub Registrar Office covers Gokul Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Gokul Nagar?

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