Guideline Value for Gomathy Nagar (facing Newly formed Inner Ring Road)

Gomathy Nagar (facing Newly formed Inner Ring Road) guideline value

The current guideline value for Gomathy Nagar (facing Newly formed Inner Ring Road) is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class I Type - III.

How the guideline value of Gomathy Nagar (facing Newly formed Inner Ring Road) has changed

The guideline value for Gomathy Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 5,000 per sq.ft. This figure saw a decrease to Rs 3,350 per sq.ft in 2017. Following this, the value increased significantly to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it rose by 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Gomathy Nagar's 2024 figure above this median.

• Gopalakrishnan Street: Rs 4,400 per sq.ft (2024)
• Gopalapillai Street: Rs 4,950 per sq.ft (2024)
• Gomathi Nagar: Rs 5,500 per sq.ft (2024)
• Gopal Street, Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Golden Avenue Main Road: Rs 3,850 per sq.ft (2024)
• Golden Avenue Extn Bhavani Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Gomathy Nagar (facing Newly formed Inner Ring Road)

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gomathy Nagar (facing Newly formed Inner Ring Road)?

The Gomathy Nagar area is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the transaction is accurately reflected in the official records.

Frequently asked questions

What is the current guideline value of Gomathy Nagar?

The current guideline value of Gomathy Nagar (facing Newly formed Inner Ring Road) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification of Gomathy Nagar?

Gomathy Nagar is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated in Gomathy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.