Guideline Value for Gokul Nagar

Gokul Nagar guideline value

The current guideline value of Gokul Nagar, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Gokul Nagar has changed

The guideline value for Gokul Nagar has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% increase. However, this value decreased to Rs 1,340 per sq.ft in 2017, a reduction of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 340%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. Gokul Nagar's 2024 value of Rs 2,200 per sq.ft is below this median.

• Govindaraj 1-st St (Near Gandhi Road): Rs 2,200 per sq.ft (2024)
• Govindaraj 2-nd St (Near Gandhi Road): Rs 2,200 per sq.ft (2024)
• Govindarajan Cross Street: Rs 4,400 per sq.ft (2024)
• Govindarajan Street: Rs 5,500 per sq.ft (2024)
• Govindarao Street: Rs 2,200 per sq.ft (2024)
• G.S.T. Road: Rs 7,700 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gokul Nagar?

The Gokul Nagar area is covered by 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 Tambaram

The guideline value is a crucial factor when buying or selling property in Tambaram. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers should ensure they are aware of the current guideline value to accurately assess the costs involved in a property transaction.

When a property is sold, the guideline value serves as a benchmark for the transaction value, ensuring that the appropriate taxes are calculated based on the higher of the guideline value or the sale price. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gokul Nagar?

The current guideline value of Gokul Nagar is Rs 2,200 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 2007 to Rs 2,200 per sq.ft in 2024, indicating an overall increase of 340% over the years.

What are the stamp duty rates for property in Gokul Nagar?

The stamp duty for property in Gokul Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Gokul Nagar located?

The Sub Registrar Office for Gokul Nagar is located at No.26, mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

What is the land classification of Gokul Nagar?

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