Guideline Value for Gokulam Nagar 3rd Street

Gokulam Nagar 3rd Street guideline value

The current guideline value of Gokulam Nagar 3rd 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 3rd Street has changed

The guideline value for Gokulam Nagar 3rd Street has seen several revisions since 2002. In 2002, the guideline value was Rs 134 per sq.ft. This increased to Rs 148 per sq.ft in 2003, marking a 10% rise. The value then surged significantly to Rs 650 per sq.ft in 2007, representing a 339% increase. Following this, the value experienced a dramatic increase to Rs 4,000 per sq.ft in 2012, reflecting a 515% change. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The 2023 revision set the value at Rs 4,000 per sq.ft, and the current revision for 2024 is Rs 4,400 per sq.ft, indicating a 10% increase.

There are no figures available for the years between 2002 and 2003, 2007 and 2012, and 2012 and 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 3184%.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 3,300 per sq.ft. Gokulam Nagar 3rd Street's 2024 figure is above this median.

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

Stamp duty and registration fee for property in Gokulam Nagar 3rd 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 the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gokulam Nagar 3rd Street?

The Sub Registrar Office that covers Gokulam Nagar 3rd Street is 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 details.

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 reference point for determining the minimum value at which properties can be registered. Buyers and sellers should be aware that the guideline value influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the correct amount of duty is paid based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Gokulam Nagar 3rd Street?

The current guideline value of Gokulam Nagar 3rd 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 from Rs 134 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 3184% over the years.

What is the land classification for Gokulam Nagar 3rd Street?

Gokulam Nagar 3rd Street is classified as Commercial Class I Type - II.

Where is the Sub Registrar Office located for Gokulam Nagar 3rd Street?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty and registration fees for a property in Gokulam Nagar 3rd Street?

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.