Guideline Value for Gopal Reddiar Colony 1st Cross Street

Gopal Reddiar Colony 1st Cross Street guideline value

The current guideline value for Gopal Reddiar Colony 1st Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of Gopal Reddiar Colony 1st Cross Street has changed

The guideline value for Gopal Reddiar Colony 1st Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 900 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 400% rise. However, this value decreased to Rs 3,015 per sq.ft in 2017, a reduction of 33%. The value then saw a substantial increase to Rs 4,500 per sq.ft in 2023, followed by a further rise to Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year.

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 444%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, making the guideline value for Gopal Reddiar Colony 1st Cross Street above this median.

• Gopal Reddiar Colony 1st Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 2nd Cross Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 2nd Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 3rd Cross Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 3rd Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 4th Cross Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Reddiar Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. Please 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 Reddiar Colony 1st Cross Street?

The Sub Registrar Office covering Gopal Reddiar Colony 1st Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Sembiam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, it is essential to be aware of the guideline value as it can significantly impact the overall costs involved in the transaction. Buyers and sellers should consult the latest guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Gopal Reddiar Colony 1st Cross Street?

The current guideline value of Gopal Reddiar Colony 1st Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 444% over the years.

What is the stamp duty for property in Gopal Reddiar Colony 1st Cross Street?

The stamp duty for property in Gopal Reddiar Colony 1st Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Gopal Reddiar Colony 1st Cross Street?

The land classification for Gopal Reddiar Colony 1st Cross Street is Residential Special Type - I.