Guideline Value for Gokulay Street / VOC Nagar

Gokulay Street / VOC Nagar guideline value

The current guideline value of Gokulay Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, classified as Commercial Class I Type - II.

How the guideline value of Gokulay Street / VOC Nagar has changed

The guideline value for Gokulay Street / VOC Nagar has seen significant changes over the years. In 2002, the value was Rs 185 per sq.ft, which increased to Rs 210 per sq.ft in 2003, marking a 14% rise. By 2007, the value surged to Rs 360 per sq.ft, representing a 71% increase. The 2017 revision saw the value jump to Rs 1,675 per sq.ft, which was a remarkable 365% increase from 2007. The 2023 revision set the value at Rs 2,500 per sq.ft, a 49% increase from 2017. The current 2024 revision shows a further increase to Rs 2,750 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there is no figure available for Gokulay Street / VOC Nagar in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1386%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in the village is Rs 2,090 per sq.ft, placing Gokulay Street / VOC Nagar above this median.

• Gokulam Colony, Pammal: Rs 2,750 per sq.ft (2024)
• Gokulam Colony (2nd Street): Rs 2,750 per sq.ft (2024)
• Gokulam Colony (1st Street): Rs 2,750 per sq.ft (2024)
• Gopal Street / Anna Salai: Rs 1,980 per sq.ft (2024)
• Gopal Street / Gokulam Colony: Rs 2,750 per sq.ft (2024)
• Gopal Street, Pammal: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulay Street / VOC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gokulay Street / VOC Nagar?

The Sub Registrar Office that covers Gokulay Street / VOC Nagar is 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 Pammal

The guideline value plays a crucial role in property transactions in Pammal. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the government receives the appropriate revenue from property transactions.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Gokulay Street / VOC Nagar?

The current guideline value of Gokulay Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 185 per sq.ft to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1386%.

What are the stamp duty and registration fees for properties in Gokulay Street / VOC Nagar?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Gokulay Street / VOC Nagar?

The Pammal Sub Registrar Office covers Gokulay Street / VOC Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value in Pammal village?

The median guideline value in Pammal village is Rs 2,090 per sq.ft, with Gokulay Street / VOC Nagar's value being above this median.