Guideline Value for Gopal Nagar

Gopal Nagar guideline value

The current guideline value of Gopal Nagar, located in Mannivakkam village under the Gooduvancheri SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Gopal Nagar has changed

The guideline value of Gopal Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 380% rise. However, in 2017, the value saw a decrease to Rs 804 per sq.ft, a reduction of 33%. The value then increased again to Rs 1,200 per sq.ft in 2023, followed by a further increase to Rs 1,320 per sq.ft in 2024, which is a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been an increase of 428%. It is important to note that the register has no figure for Gopal Nagar for the years 2002 and 2003.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value in the village is Rs 1,215 per sq.ft, placing Gopal Nagar's 2024 guideline value above this median.

• Gowri KeerthiVasan Garden: Rs 990 per sq.ft (2024)
• Ganapathy Nagar: Rs 990 per sq.ft (2024)
• Indirani Nagar: Rs 990 per sq.ft (2024)
• Indrani Ramachandran Avenue: Rs 770 per sq.ft (2024)
• Jaya Nagar Extension M.G.R. Street: Rs 2,200 per sq.ft (2024)
• Jaya Nagar Extn M.G.R. Street: Rs 2,200 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for these fees would be Rs 1,18,800. It is essential 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 Nagar?

The Sub Registrar Office that covers Gopal Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gopal Nagar?

The current guideline value of Gopal Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 428% over the years.

What is the land classification for Gopal Nagar?

Gopal Nagar is classified as Residential Special Type - III, indicating its suitability for residential development.

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

The Sub Registrar Office for Gopal Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated in Gopal Nagar?

Stamp duty in Gopal Nagar is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.