Guideline Value for Gokulam Nagar

Gokulam Nagar guideline value

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

How the guideline value of Gokulam Nagar has changed

The guideline value has experienced 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, marking a 10% rise. The value then saw a substantial increase to Rs 650 per sq.ft in 2007, reflecting a 339% change. Following this, the value jumped to Rs 4,000 per sq.ft in 2012, a remarkable 515% increase. However, between 2012 and 2017, the value decreased to Rs 2,680 per sq.ft, which was a 33% decline. The value then rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has reached Rs 4,400 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 3184%. The register has no figures for the years in between the revisions mentioned above.

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 is above this median.

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

Stamp duty and registration fee for property in Gokulam Nagar

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. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gokulam Nagar?

The Gokulam Nagar area 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 further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Moovarasampattu. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is bought or sold, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gokulam Nagar?

The current guideline value of Gokulam Nagar 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, reflecting an overall increase of 3184% over this period.

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

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.

Which office handles registrations for Gokulam Nagar?

The Alandur Sub Registrar Office handles registrations for Gokulam Nagar, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Gokulam Nagar?

Gokulam Nagar is classified as Commercial Class I Type - II, indicating its designation for commercial use.