Guideline Value for Gokulam Nagar Base 2

Gokulam Nagar Base 2 guideline value

The current guideline value of Gokulam Nagar Base 2 is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Moovarasampattu village and falls under the Alandur SRO. The land classification is Commercial Class I Type - II.

How the guideline value of Gokulam Nagar Base 2 has changed

The guideline value for Gokulam Nagar Base 2 has seen significant changes over the years. In 2002, the value was Rs 134 per sq.ft, which increased to Rs 148 per sq.ft in 2003. Following this, the value rose dramatically to Rs 650 per sq.ft in 2007, and then to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017 before climbing to Rs 4,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

When looking at the changes between revisions, the guideline value increased by 49% from 2017 to 2023. The value saw a significant drop of 33% from 2012 to 2017. Notably, there was a remarkable increase of 515% from 2007 to 2012 and a 339% rise from 2003 to 2007. 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. The guideline value for Gokulam Nagar Base 2 is above this median.

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

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 3,96,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Gokulam Nagar Base 2?

The Gokulam Nagar Base 2 area is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Moovarasampattu. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is officially recorded.

When a property is sold, the guideline value is assessed to ensure that the sale price reflects the current market conditions. This ensures transparency and helps in the accurate calculation of taxes associated with the property transfer.

Frequently asked questions

What is the current guideline value of Gokulam Nagar Base 2?

The current guideline value of Gokulam Nagar Base 2 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 Base 2?

The land classification for Gokulam Nagar Base 2 is Commercial Class I Type - II, indicating its usage for commercial purposes.

Where is the Alandur Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Gokulam Nagar Base 2?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000 based on the current guideline value.