Guideline Value for Gomathi Nagar - Thiruppavai Street

Gomathi Nagar - Thiruppavai Street guideline value

The current guideline value for Gomathi Nagar - Thiruppavai Street is Rs 3,300 per sq.ft. This street is located in Valasaravakkam village, under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Gomathi Nagar - Thiruppavai Street has changed

The guideline value for Gomathi Nagar - Thiruppavai Street has undergone several revisions over the years. Starting from Rs 273 per sq.ft in 2002, it increased to Rs 297 per sq.ft in 2003. The value then rose significantly to Rs 400 per sq.ft in 2007, followed by a substantial jump to Rs 3,000 per sq.ft in 2012. However, it saw a decrease to Rs 2,010 per sq.ft in 2017. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft.

In terms of percentage changes, the value increased by 9% from 2002 to 2003, followed by a 35% rise from 2003 to 2007. There was a remarkable 650% increase from 2007 to 2012, but then it dropped by 33% from 2012 to 2017. Finally, from 2017 to 2024, the value surged by 64%. Overall, from 2002 to 2024, the guideline value has increased by 1109%. It is important to note that the register has no figure for this street in 2023.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, indicating that Gomathi Nagar - Thiruppavai Street's 2024 figure is below this median.

• Gopal Avenue: Rs 4,400 per sq.ft (2024)
• Gokulam Colony: Rs 3,300 per sq.ft (2024)
• Govindan Salai: Rs 3,300 per sq.ft (2024)
• Ganga Street: Rs 3,300 per sq.ft (2024)
• Gangai Amman Koil Street (Kaikhankuppam): Rs 3,300 per sq.ft (2024)
• Hospital Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gomathi Nagar - Thiruppavai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gomathi Nagar - Thiruppavai Street?

The Sub Registrar Office that covers Gomathi Nagar - Thiruppavai Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Valasaravakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions. Therefore, understanding the guideline value is essential for both buyers and sellers in the Valasaravakkam area.

Frequently asked questions

What is the current guideline value for Gomathi Nagar - Thiruppavai Street?

The current guideline value for Gomathi Nagar - Thiruppavai Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 273 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1109% since 2002.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Gomathi Nagar - Thiruppavai Street?

The Virugambakkam Sub Registrar Office handles property registrations for Gomathi Nagar - Thiruppavai Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Valasaravakkam?

The median guideline value for streets in Valasaravakkam is Rs 3,850 per sq.ft, which indicates that Gomathi Nagar - Thiruppavai Street's value is below this median.