Guideline Value for Gokulam Phase I

Gokulam Phase I guideline value

The current guideline value for Gokulam Phase I is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in Nolambur village and falls under the Villivakkam SRO. The land classification for this region is Residential Special Type - I.

How the guideline value of Gokulam Phase I has changed

Since the 2017 revision, the guideline value has seen significant increases. In 2017, the guideline value was Rs 4,355 per sq.ft, which rose to Rs 6,500 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 has set the value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 63%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the guideline value for Gokulam Phase I.

• Gokulam Phase II: Rs 7,100 per sq.ft (2024)
• Gokulam Phase III: Rs 7,100 per sq.ft (2024)
• Golden Fortune: Rs 7,100 per sq.ft (2024)
• Guruswamy Street [Jain Sundarbans]: Rs 7,100 per sq.ft (2024)
• Galaxy Apartments (S.No.327): Rs 7,100 per sq.ft (2024)
• Gajalakshmi Nagar Extn: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. 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 detailed calculations.

Which Sub Registrar Office covers Gokulam Phase I?

The Sub Registrar Office that covers Gokulam Phase I is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value plays a crucial role when buying or selling property in 1. Nolambur. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with local regulations. This value is regularly updated, and staying informed can help avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Gokulam Phase I?

The current guideline value for Gokulam Phase I is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 63%, from Rs 4,355 per sq.ft to Rs 7,100 per sq.ft in 2024.

What was the guideline value in 2023?

The guideline value for Gokulam Phase I in 2023 was Rs 6,500 per sq.ft.

Which Sub Registrar Office is responsible for Gokulam Phase I?

The Villivakkam Sub Registrar Office is responsible for Gokulam Phase I, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Gokulam Phase I?

Stamp duty for properties in Gokulam Phase I is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.