Guideline Value for Gopal Reddiar Colony 3rd Cross Street

Gopal Reddiar Colony 3rd Cross Street guideline value

The current guideline value for Gopal Reddiar Colony 3rd Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the jurisdiction of the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of Gopal Reddiar Colony 3rd Cross Street has changed

The guideline value for Gopal Reddiar Colony 3rd Cross Street has seen significant changes over the years. In the 2007 revision, the value was Rs 900 per sq.ft, which increased dramatically to Rs 4,500 per sq.ft in 2012, marking a 400% rise. However, in the 2017 revision, the value dropped to Rs 3,015 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, before reaching the current guideline value of Rs 4,900 per sq.ft in the 2024 revision, which is a 9% increase from the previous year.

Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 444%. It is important to note that the register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Gopal Reddiar Colony 3rd Cross Street is notably above this median.

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

Stamp duty and registration fee for property in Gopal Reddiar Colony 3rd 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 amounts to Rs 49,00,000. The stamp duty, calculated at 7%, would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gopal Reddiar Colony 3rd Cross Street?

The Gopal Reddiar Colony 3rd Cross Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for additional details.

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

The guideline value plays a crucial role during the registration of property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Gopal Reddiar Colony 3rd Cross Street?

The current guideline value of Gopal Reddiar Colony 3rd 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 significantly from Rs 900 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, representing an overall increase of 444% over the years.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers this street?

The Sembiam Sub Registrar Office covers Gopal Reddiar Colony 3rd Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Gopal Reddiar Colony 3rd Cross Street?

The land classification for Gopal Reddiar Colony 3rd Cross Street is Residential Special Type - I.