Guideline Value for Gokulam nagar phase - II

Gokulam nagar phase - II guideline value

The current guideline value of Gokulam nagar phase - II is Rs 3,700 per sq.ft, effective from 1 July 2024. This area is located in Erandankattalai village under the Pammal SRO, and the land classification is Mixed Type - I.

How the guideline value of Gokulam nagar phase - II has changed

The guideline value for Gokulam nagar phase - II has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,700 per sq.ft, which is a significant increase from the 2023 revision of Rs 2,250 per sq.ft. This represents a change of +64% from the previous year. The 2017 revision also recorded a value of Rs 2,250 per sq.ft, indicating no change between 2017 and 2023. Overall, from 2017 to 2024, the guideline value has increased by +64%.

There are no figures available for the revisions in 2012, 2007, 2003, and 2002 for this street. Therefore, the comparison is limited to the years where figures are provided.

Guideline values in Erandankattalai

In Erandankattalai, there are 60 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 4,270 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Gokulam nagar phase - II's 2024 figure above that median.

• Gokulam Nagar: Rs 1,650 per sq.ft (2024)
• Golden Avenue: Rs 1,100 per sq.ft (2024)
• Giramani Street: Rs 1,100 per sq.ft (2024)
• Gandhi Salai: Rs 1,100 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Everest Garden - VI: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam nagar phase - II

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value would be Rs 37,00,000. The stamp duty at 7% would amount to Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, bringing the total to Rs 3,33,000. 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 further assistance.

Which Sub Registrar Office covers Gokulam nagar phase - II?

The Gokulam nagar phase - II area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Erandankattalai. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that properties are not sold below a certain value.

When buying or selling property, the guideline value influences the stamp duty and registration fees that must be paid. It is essential for buyers and sellers to be aware of the current guideline value to accurately assess the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Gokulam nagar phase - II?

The current guideline value of Gokulam nagar phase - II is Rs 3,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by +64%, from Rs 2,250 per sq.ft to Rs 3,700 per sq.ft.

What is the land classification for Gokulam nagar phase - II?

The land classification for Gokulam nagar phase - II is Mixed Type - I, indicating a variety of permissible land uses in the area.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Gokulam nagar phase - II?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 37,00,000, the stamp duty would be Rs 2,59,000.