Guideline Value for Gokul Nagar

Gokul Nagar guideline value

The current guideline value of Gokul Nagar, located in Salamangalam village under the Sriperumpudur SRO, is Rs 600 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Gokul Nagar has changed

Over the years, the guideline value of Gokul Nagar has seen several revisions. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 300% rise. However, from 2012 to 2017, the value dropped to Rs 402 per sq.ft, a decrease of 33%. The value then rose again to Rs 600 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 600 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 300%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing Gokul Nagar's 2024 figure above that median.

• Green Avenue: Rs 550 per sq.ft (2024)
• Green Avenue Extension: Rs 550 per sq.ft (2024)
• Green City: Rs 550 per sq.ft (2024)
• Green city Extension: Rs 550 per sq.ft (2024)
• Green City Extension -II: Rs 550 per sq.ft (2024)
• Green city Extension -III: Rs 550 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total charges to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gokul Nagar?

The Gokul Nagar area falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Salamangalam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is standardized and transparent, reflecting the official value of the property.

Frequently asked questions

What is the current guideline value of Gokul Nagar?

The current guideline value of Gokul Nagar is Rs 600 per sq.ft, as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with significant increases and decreases. From 2007 to 2024, the overall increase is 300%, with the value fluctuating between Rs 150 and Rs 600 per sq.ft.

What is the median guideline value in Salamangalam?

The median guideline value for the streets in Salamangalam is Rs 500 per sq.ft, with Gokul Nagar's current value being above this median.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total charges would be Rs 54,000.

Where is the Sub Registrar Office for Gokul Nagar located?

The Sriperumpudur Sub Registrar Office, which covers Gokul Nagar, is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.