Guideline Value for Gopal Colony 3rd Street

Gopal Colony 3rd Street guideline value

The current guideline value of Gopal Colony 3rd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village, under the jurisdiction of the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Gopal Colony 3rd Street has changed

The guideline value for Gopal Colony 3rd Street has undergone 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, marking a rise of 180%. However, in 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, showing a substantial increase of 49% from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, which represents an 11% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 212%. Note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Gopal Colony 3rd Street. Below are the guideline values for other streets in Palavanthangal:

• Gopal Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Gopal Colony 1st 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 3rd 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, bringing the total fees together to 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopal Colony 3rd Street?

The Sub Registrar Office that covers Gopal Colony 3rd 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 is a crucial factor in property transactions in Palavanthangal, as it determines the official value of the property for registration purposes. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties comply with the legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall costs involved in the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Gopal Colony 3rd Street?

The current guideline value of Gopal Colony 3rd 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 3rd Street?

The land classification for Gopal Colony 3rd Street is Residential Class I Type - III, indicating its suitability for residential purposes.

Where can I find the registration office for Gopal Colony 3rd Street?

The registration office for Gopal Colony 3rd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Gopal Colony 3rd Street?

The stamp duty for properties in Gopal Colony 3rd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.