Guideline Value for Gokul Nagar

Gokul Nagar guideline value

The current guideline value of Gokul Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Agaramthen village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Gokul Nagar has changed

The guideline value for Gokul Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 500 per sq.ft, which decreased to Rs 335 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 550 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no recorded figures for Gokul Nagar in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median value for these streets is Rs 830 per sq.ft, placing Gokul Nagar's 2024 guideline value below this median.

• Garuda Avenue: Rs 3,450 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 550 per sq.ft (2024)
• Evergreen Enclave Phase IV: Rs 1,760 per sq.ft (2024)
• Jagajeevan Ram Street: Rs 550 per sq.ft (2024)
• Easwaran Koil Street: Rs 550 per sq.ft (2024)
• Easwaran Koil Cross Street: 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling 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 the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Gokul Nagar?

The Sub Registrar Office that covers Gokul Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Agaramthen, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price cannot be lower than the guideline value. This ensures that the government receives appropriate revenue from property transactions, as the duty is charged based on the higher of the guideline value or the sale price.

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 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Gokul Nagar?

The land classification for Gokul Nagar is Residential Class I Type - III.

Where can I find the Sub Registrar Office for Gokul Nagar?

The Sub Registrar Office for Gokul Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Gokul Nagar?

Stamp duty for properties in Gokul Nagar is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.