Guideline Value for Gomathi Nagar

Gomathi Nagar guideline value

The current guideline value of Gomathi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Gomathi Nagar has changed

Since the 2012 revision, the guideline value for Gomathi Nagar has seen several changes. In 2012, the guideline value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. However, from 2017 to 2023, it increased significantly to Rs 2,500 per sq.ft and further rose to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

To summarize the revisions, the guideline values are as follows: Rs 2,500 per sq.ft in 2012, Rs 1,675 per sq.ft in 2017, Rs 2,500 per sq.ft in 2023, and finally Rs 2,750 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this village is Rs 1,650 per sq.ft, and Gomathi Nagar's 2024 figure is above this median.

• Gomathi Nagar Yamuna Street: Rs 2,750 per sq.ft (2024)
• Gomathi Street: Rs 2,750 per sq.ft (2024)
• Gopalraw street: Rs 1,650 per sq.ft (2024)
• Govindasamy Street: Rs 1,100 per sq.ft (2024)
• Gowsalya Nagar: Rs 3,300 per sq.ft (2024)
• Gowthaman St: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gomathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gomathi Nagar?

The Sub Registrar Office that covers Gomathi Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam. It determines the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value as it influences the financial obligations associated with the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Gomathi Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Gomathi Nagar?

Gomathi Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Gomathi Nagar?

The Sub Registrar Office for Gomathi Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Gomathi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 27,50,000 would incur a stamp duty of Rs 1,92,500.