Guideline Value for Gopal Colony 2nd Street

Gopal Colony 2nd Street guideline value

The current guideline value of Gopal Colony 2nd 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 2nd Street has changed

The guideline value for Gopal Colony 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,250 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it saw a decrease to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 11%. Notably, the overall increase from 2007 to 2024 is 212%, reflecting substantial changes in the guideline value over the years.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the guideline value of Gopal Colony 2nd Street.

• Gopal Colony 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopal Colony 2nd Street?

The Gopal Colony 2nd Street falls under 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 is a crucial factor in property transactions in Palavanthangal. It serves as a benchmark for determining the minimum value of a property for registration purposes. When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and fairly in accordance with the local regulations.

During the registration process, buyers and sellers must refer to the guideline value to calculate applicable duties and fees. This ensures transparency and compliance with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Gopal Colony 2nd Street?

The current guideline value of Gopal Colony 2nd 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 changed from Rs 1,250 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 212% over the years.

What is the land classification for Gopal Colony 2nd Street?

Gopal Colony 2nd Street is classified as Residential Class I Type - III under the Alandur SRO.

Where can I find the registration office for Gopal Colony 2nd Street?

The registration office for Gopal Colony 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Gopal Colony 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.