Guideline Value for Gopal Garden

Gopal Garden guideline value

The current guideline value of Gopal Garden is Rs 400 per sq.ft, effective from 1 July 2024. Gopal Garden is located in Erivakkam village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Gopal Garden has changed

The guideline value for Gopal Garden has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 50 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012. However, in 2017, the value dropped to Rs 268 per sq.ft. The 2023 revision maintained the value at Rs 400 per sq.ft, which remained unchanged in the 2024 revision.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to Rs 400 per sq.ft. The overall change from 2007 to 2024 shows a remarkable increase of 700%, highlighting the fluctuations in the guideline value over the years. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Erivakkam

In Erivakkam, there are 19 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,000 per sq.ft, with a median value of Rs 400 per sq.ft. Gopal Garden's 2024 guideline value aligns with this median.

• Golden Avenue: Rs 300 per sq.ft (2024)
• Excel Avenue: Rs 500 per sq.ft (2024)
• Keerthana Nagar: Rs 300 per sq.ft (2024)
• K.K.R. Nagar: Rs 400 per sq.ft (2024)
• K.K.R Nagar Annex-II: Rs 300 per sq.ft (2024)
• Kousalya Nagar Phase III: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Garden

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total Rs 36,000. 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 further calculations.

Which Sub Registrar Office covers Gopal Garden?

The Gopal Garden area falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. To find more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Erivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is considered for calculating the stamp duty and registration fees. This ensures that the fees are aligned with the official valuation of the property, safeguarding both buyers and sellers in the transaction.

Frequently asked questions

What is the current guideline value of Gopal Garden?

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

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent revisions showing a consistent value of Rs 400 per sq.ft since 2023. The value has increased by 700% from Rs 50 per sq.ft in 2007 to Rs 400 per sq.ft in 2024.

What is the land classification for Gopal Garden?

The land classification for Gopal Garden is Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty rates for property transactions in Gopal Garden?

The stamp duty for property transactions in Gopal Garden is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

Where can I find the Sub Registrar Office for Gopal Garden?

The Sub Registrar Office covering Gopal Garden is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.