Guideline Value for Gopal Colony 1st Street

Gopal Colony 1st Street guideline value

The current guideline value of Gopal Colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Gopal Colony 1st Street has changed

The guideline value for Gopal Colony 1st Street has seen several revisions over the years. In 2007, the value was Rs 1,250 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value dropped to Rs 2,345 per sq.ft in 2017. The subsequent revision in 2023 brought the value up to Rs 3,500 per sq.ft, and the latest revision in 2024 set it at Rs 3,900 per sq.ft, reflecting an increase of 11% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 212%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

Palavanthangal has a total of 95 streets under the Alandur SRO with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of Gopal Colony 1st Street.

• Gopal Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Gopal Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• G S T Road: Rs 11,000 per sq.ft (2024)
• Gandhi Street: Rs 3,900 per sq.ft (2024)
• Gandhi Road/Gandhi Salai: Rs 3,900 per sq.ft (2024)
• Jaihind Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for these fees would be Rs 3,51,000. 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 details.

Which Sub Registrar Office covers Gopal Colony 1st Street?

The Sub Registrar Office that covers Gopal Colony 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Palavanthangal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Understanding these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Gopal Colony 1st Street?

The current guideline value of Gopal Colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,250 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 212% over this period.

What are the stamp duty and registration fees for property in Gopal Colony 1st Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,51,000.

Which office handles registrations for Gopal Colony 1st Street?

The Alandur Sub Registrar Office handles registrations for Gopal Colony 1st Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Gopal Colony 1st Street?

Gopal Colony 1st Street is classified as Residential Class I Type - III, which is important for understanding the potential uses of the property.