Guideline Value for Gopal Reddiar Colony 3rd Street

Gopal Reddiar Colony 3rd Street guideline value

The current guideline value of Gopal Reddiar Colony 3rd 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 3rd Street has changed

The guideline value for Gopal Reddiar Colony 3rd Street has seen several revisions over the years. In the 2007 revision, the value was Rs 900 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a 400% rise. However, it decreased to Rs 3,015 per sq.ft in the 2017 revision, a drop of 33%. The value then rose again to Rs 4,500 per sq.ft in the 2023 revision, before reaching the current 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 2024 revision, the guideline value has increased by 444%. There are no figures available for Gopal Reddiar Colony 3rd Street in the 2002 and 2003 revisions.

Guideline values in Sembiam

In Sembiam village, 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 of Gopal Reddiar Colony 3rd Street is above this median.

• Gopal Reddiar Colony 3rd 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 2nd Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 4th Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 2nd Cross Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 5th Cross Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Reddiar Colony 3rd 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 together to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Gopal Reddiar Colony 3rd 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 when buying or selling property in Sembiam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

When registering a property, the guideline value ensures that the transaction is documented at a fair valuation, which helps in maintaining transparency in property dealings. This value is updated periodically, reflecting changes in the real estate landscape.

Frequently asked questions

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

The current guideline value of Gopal Reddiar Colony 3rd 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, marking an overall increase of 444% over the years.

What are the stamp duty rates for property in Gopal Reddiar Colony 3rd Street?

The stamp duty for property in Gopal Reddiar Colony 3rd Street is charged at 7% of the guideline value or 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 other streets have the same guideline value as Gopal Reddiar Colony 3rd Street?

Other streets in Sembiam that share the same guideline value of Rs 4,900 per sq.ft (2024) include Gopal Reddiar Colony 3rd Cross Street, Gopal Reddiar Colony 4th Cross Street, Gopal Reddiar Colony 2nd Street, Gopal Reddiar Colony 4th Street, Gopal Reddiar Colony 2nd Cross Street, and Gopal Reddiar Colony 5th Cross Street.