Guideline Value for Gokulam 2nd Cross Street

Gokulam 2nd Cross Street guideline value

The current guideline value of Gokulam 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Gokulam 2nd Cross Street has changed

The guideline value of Gokulam 2nd Cross Street has seen several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 2,345 per sq.ft. This figure increased significantly to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 64%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Gokulam 2nd Cross Street's 2024 guideline value is below this median.

• Gokulam 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Gokulam 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Gokulam colony: Rs 3,850 per sq.ft (2024)
• Gokulam Colony 1st Street: Rs 3,850 per sq.ft (2024)
• Gokulam Colony 2nd Street: Rs 3,850 per sq.ft (2024)
• Gokulam Colony 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gokulam 2nd Cross Street?

The Sub Registrar Office that covers Gokulam 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

When buying or selling property in Velachery, the guideline value is used as a basis for calculating stamp duty and registration fees. This value is set by the government and can vary based on the location and type of property.

The guideline value is essential for ensuring that the transaction is recorded accurately and that the appropriate taxes are paid. It helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gokulam 2nd Cross Street?

The current guideline value of Gokulam 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for property in Gokulam 2nd Cross Street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Gokulam 2nd Cross Street?

The Velacheri Sub Registrar Office covers Gokulam 2nd Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Gokulam 2nd Cross Street?

The land classification for Gokulam 2nd Cross Street is Residential Class II Type - III.