Guideline Value for Gokulam Nagar 1st Street

Gokulam Nagar 1st Street guideline value

The current guideline value for Gokulam Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Moovarasampattu village under the Alandur SRO, classified as Commercial Class I Type - II.

How the guideline value of Gokulam Nagar 1st Street has changed

The guideline value for Gokulam Nagar 1st Street has experienced significant changes over the years. In 2002, the guideline value was Rs 134 per sq.ft, which increased to Rs 148 per sq.ft in 2003. The value continued to rise, reaching Rs 650 per sq.ft in 2007, followed by a substantial increase to Rs 4,000 per sq.ft in 2012. However, it dropped to Rs 2,680 per sq.ft in 2017. The value then rose again to Rs 4,000 per sq.ft in 2023, culminating in the current value of Rs 4,400 per sq.ft in 2024.

Between revisions, the changes were as follows: from 2002 to 2003, there was an increase of 10%. The value surged by 339% from 2003 to 2007. A remarkable increase of 515% was noted from 2007 to 2012. The value then decreased by 33% from 2012 to 2017. Following this, there was a significant rise of 49% from 2017 to 2023, and finally, a 10% increase from 2023 to 2024.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Gokulam Nagar 1st Street above this median.

• Gokulam Nagar 1st Main road: Rs 4,400 per sq.ft (2024)
• Gokulam Nagar 2nd Main road: Rs 4,400 per sq.ft (2024)
• Gokulam Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Gokulam Nagar 3rd main road: Rs 4,400 per sq.ft (2024)
• Gokulam Nagar: Rs 4,400 per sq.ft (2024)
• Gokulam Nagar 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gokulam Nagar 1st Street?

The Gokulam Nagar 1st Street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Moovarasampattu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as it impacts the stamp duty and registration fees payable at the time of transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gokulam Nagar 1st Street?

The current guideline value of Gokulam Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 134 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Gokulam Nagar 1st Street?

Gokulam Nagar 1st Street is classified as Commercial Class I Type - II, which influences its guideline value.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Gokulam Nagar 1st Street located?

The Sub Registrar Office covering Gokulam Nagar 1st Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.