Guideline Value for Gokul Nagar

Gokul Nagar guideline value

The current guideline value of Gokul Nagar, located in Rajakilpakkam village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Gokul Nagar has changed

Over the years, the guideline value for Gokul Nagar has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the Rs 1,675 per sq.ft recorded in the 2017 revision. The value remained at Rs 2,500 per sq.ft in 2012 and did not change until the 2023 revision, which increased it to Rs 2,500 per sq.ft. The most recent 2024 revision has raised the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

In summary, the changes from the 2012 revision to the 2024 revision show an overall increase of 8%. The guideline value rose significantly by 49% from 2017 to 2023, while the 2023 to 2024 change reflects an increase of 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

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 for these streets is Rs 2,150 per sq.ft, placing Gokul Nagar's 2024 value above this median.

• Gokul Nagar 3rd Street: 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

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, charged at 7%, would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, 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 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in real estate transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gokul Nagar?

The current guideline value of Gokul Nagar 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 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. Additionally, it increased by 49% from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023.

What is the land classification for Gokul Nagar?

Gokul Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Where is the Sub Registrar Office for Gokul Nagar 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.