Guideline Value for Gopal Avenue

Gopal Avenue guideline value

The current guideline value of Gopal Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Gopal Avenue has changed

The guideline value for Gopal Avenue has seen significant changes over the years. The earliest recorded figure is from 2002, which was Rs 429 per sq.ft. This value increased to Rs 467 per sq.ft in 2003, marking a rise of 9%. Following this, the value rose to Rs 650 per sq.ft in 2007, reflecting a 39% increase. The 2012 revision saw a substantial jump to Rs 4,000 per sq.ft, which was a remarkable 515% increase from the previous revision. However, the value then decreased to Rs 2,680 per sq.ft in 2017, showing a decline of 33%. The value increased again to Rs 4,000 per sq.ft in 2023, and the most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 926%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. Gopal Avenue's 2024 guideline value is above this median.

• Gomathi Nagar - Thiruppavai Street: Rs 3,300 per sq.ft (2024)
• Govindan Salai: Rs 3,300 per sq.ft (2024)
• Gokulam Colony: 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 Gopal Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. 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 more detailed calculations.

Which Sub Registrar Office covers Gopal Avenue?

The Sub Registrar Office that covers Gopal Avenue is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Valasaravakkam. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gopal Avenue?

The current guideline value of Gopal Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 429 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 926%.

What are the other streets in Valasaravakkam with guideline values?

Other streets in Valasaravakkam include Gomathi Nagar - Thiruppavai Street, Govindan Salai, Gokulam Colony, Ganga Street, Gangai Amman Koil Street (Kaikhankuppam), and Hospital Road, with values ranging from Rs 3,300 to Rs 4,400 per sq.ft in 2024.

Where is the Sub Registrar Office for Gopal Avenue located?

The Sub Registrar Office for Gopal Avenue is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Gopal Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,08,000.