Guideline Value for Gopal Nagar

Gopal Nagar guideline value

The current guideline value of Gopal Nagar, located in Nanmangalam village under the Pallavaram SRO, is Rs 2,750 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Gopal Nagar has changed

Over the years, the guideline value of Gopal Nagar has seen significant changes. The earliest recorded figure is from 2002, with a guideline value of Rs 91 per sq.ft. This value increased to Rs 128 per sq.ft in 2003, marking a 41% rise. The next revision in 2007 saw a substantial increase to Rs 300 per sq.ft, which is a 134% jump. However, the value experienced a remarkable surge to Rs 2,500 per sq.ft in 2012, representing a 733% increase. The guideline value then decreased to Rs 1,675 per sq.ft in 2017, a decline of 33%. Following this, the value rose to Rs 2,500 per sq.ft in 2023, a 49% increase, before reaching the current figure of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

There are no figures available for Gopal Nagar for the years not listed in the register. Overall, from 2002 to 2024, the guideline value has increased by 2922%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value of these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value of Gopal Nagar.

• Gopal Nagar 1 To 5 Streets: Rs 1,980 per sq.ft (2024)
• Govindaswamy Nagar: Rs 1,960 per sq.ft (2024)
• G.P. Samy Nagar Layout: Rs 3,300 per sq.ft (2024)
• Gayathri Nagar: Rs 1,980 per sq.ft (2024)
• Ganesh Nagar: Rs 1,980 per sq.ft (2024)
• Gandhi Salai: Rs 1,960 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 detailed calculations.

Which Sub Registrar Office covers Gopal Nagar?

The Sub Registrar Office that covers Gopal Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nanmangalam, as it determines the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will charge stamp duty and registration fees based on the higher of the guideline value or the agreed sale price.

This ensures transparency in property transactions and helps in assessing the value of properties for taxation purposes. Buyers should always check the current guideline value to understand the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Gopal Nagar?

The current guideline value of Gopal Nagar is Rs 2,750 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 91 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2922%.

What is the land classification for Gopal Nagar?

Gopal Nagar falls under the Residential Class I Type - I land classification, which is designated for residential purposes.

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

The Sub Registrar Office for Gopal Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Gopal Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,92,500.