Guideline Value for Gopal Nagar

Gopal Nagar guideline value

The current guideline value of Gopal Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village, under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Gopal Nagar has changed

The guideline value of Gopal Nagar has seen significant changes over the years. In 2007, the value was Rs 150 per sq.ft, which increased dramatically to Rs 1,600 per sq.ft in 2012, reflecting a rise of 967%. However, in 2017, the value decreased to Rs 1,072 per sq.ft, marking a decline of 33%. The value then rose again to Rs 1,600 per sq.ft in 2023, and most recently, it increased to Rs 1,760 per sq.ft in 2024, a change of 10% from the previous year. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from 2007 to 2024, the guideline value has increased by 1073%. The revisions clearly indicate fluctuations in the guideline value over the years, reflecting the changes in the real estate landscape of the area.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. Gopal Nagar's 2024 guideline value is below this median, indicating a relatively lower rate compared to other streets in the village.

• Gnanabandidhar Nagar: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,210 per sq.ft (2024)
• Gandhi Street: Rs 1,210 per sq.ft (2024)
• Gandhi Nagar: Rs 1,210 per sq.ft (2024)
• Gajalakshmi Street: Rs 1,210 per sq.ft (2024)
• Eswaran Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty, charged at 7%, would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200. Thus, the total cost for stamp duty and registration fees would be Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopal Nagar?

The Sub Registrar Office that covers Gopal Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Mudichur, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value, which serves as a benchmark for property transactions in the area.

At the time of registration, the buyer must pay the applicable stamp duty and registration fees, which are calculated on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gopal Nagar?

The current guideline value of Gopal Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 1073% over the years.

What are the stamp duty and registration fees for property in Gopal Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,60,000, leading to a stamp duty of Rs 1,23,200 and a registration fee of Rs 35,200, totaling Rs 1,58,400.

Which Sub Registrar Office covers Gopal Nagar?

The Padappai Sub Registrar Office covers Gopal Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Gopal Nagar?

The land classification for Gopal Nagar is Residential Class I Type - I, indicating its designation for residential purposes.