Guideline Value for Gokulam Avenue

Gokulam Avenue guideline value

The current guideline value of Gokulam Avenue in Madhavaram village, under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Gokulam Avenue has changed

The guideline value for Gokulam Avenue has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase of 8% from the 2023 figure of Rs 1,200 per sq.ft. Prior to that, the 2012 revision also recorded the value at Rs 1,200 per sq.ft, showing no change from 2012 to 2023.

There are no figures available for Gokulam Avenue in the revisions from 2002, 2003, 2007, and 2017. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Gokulam Avenue's 2024 figure below that median.

• Gokulam Avenue,Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• GNT Road (Ward-30): Rs 4,400 per sq.ft (2024)
• GNT Road (Ward-20): Rs 4,400 per sq.ft (2024)
• G.N.T. Road (Nellore High Road): Rs 4,400 per sq.ft (2024)
• Gemini Vasan St (Ward-14): Rs 1,300 per sq.ft (2024)
• Gemini Ss Vasan Street (Ward-10): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Please 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 details.

Which Sub Registrar Office covers Gokulam Avenue?

The Gokulam Avenue area falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Gokulam Avenue?

The current guideline value of Gokulam Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Gokulam Avenue has increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. There was no change from 2012 to 2023, and there are no figures available for the years 2002, 2003, 2007, and 2017.

What is the classification of land in Gokulam Avenue?

The land classification for Gokulam Avenue is Residential Class III Type - I.

What are the stamp duty and registration fees for properties in Gokulam Avenue?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Gokulam Avenue located?

The Madhavaram Sub Registrar Office, which covers Gokulam Avenue, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.