Guideline Value for Gopal Nayakkar Nagar

Gopal Nayakkar Nagar guideline value

The current guideline value of Gopal Nayakkar Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village and falls under the Konnur SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Gopal Nayakkar Nagar has changed

Since the year 2002, the guideline value for Gopal Nayakkar Nagar has seen significant changes. The register shows a guideline value of Rs 230 per sq.ft in 2002, which increased to Rs 253 per sq.ft in 2003. Following this, the value rose to Rs 800 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017 before increasing to Rs 3,500 per sq.ft in 2023. The current value of Rs 3,800 per sq.ft represents a 9% increase from the previous year.

Looking at the changes between revisions, the increase from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%. The rise from 2007 to 2012 was substantial at 338%, and from 2003 to 2007, it was 216%. Overall, from 2002 to 2024, the guideline value has increased by 1552%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 7,100 per sq.ft, making the 2024 figure for Gopal Nayakkar Nagar below that median.

• Goodwill Apartment: Rs 7,100 per sq.ft (2024)
• Govindasamy Street: Rs 5,700 per sq.ft (2024)
• Golden George Rathinam Salai: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Vasantha Sreet: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Thirumathi Checheli Pushpam Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar & Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Nayakkar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopal Nayakkar Nagar?

The Sub Registrar Office that covers Gopal Nayakkar Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Mugappair. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps establish a baseline for negotiation. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Gopal Nayakkar Nagar?

The current guideline value of Gopal Nayakkar Nagar is Rs 3,800 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 230 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 1552% over the years.

What is the land classification for Gopal Nayakkar Nagar?

The land classification for Gopal Nayakkar Nagar is Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.