Guideline Value for Gopal Reddiar Colony 4th Street

Gopal Reddiar Colony 4th Street guideline value

The current guideline value for Gopal Reddiar Colony 4th 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 4th Street has changed

The guideline value for Gopal Reddiar Colony 4th Street has seen 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. However, it decreased to Rs 3,015 per sq.ft in 2017. The value then rose to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,900 per sq.ft in 2024.

Between these revisions, there have been notable changes. From 2007 to 2012, the value increased by 400%. However, from 2012 to 2017, it decreased by 33%. The value then surged by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. 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 guideline values for 2024 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, placing Gopal Reddiar Colony 4th Street above this median.

• Gopal Reddiar Colony 4th Cross Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 5th Cross Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 3rd Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 5th Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 3rd Cross Street: Rs 4,900 per sq.ft (2024)
• Gopal Reddiar Colony 6th Cross Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Reddiar Colony 4th 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, while the registration fee at 2% would be Rs 98,000. Together, the total cost for these fees would be Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Gopal Reddiar Colony 4th Street?

The Sub Registrar Office that covers Gopal Reddiar Colony 4th 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 is a crucial factor when buying or selling property in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used by the registration authorities to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is in line with the guideline value. If the sale price is lower than the guideline value, the registration fees will be based on the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gopal Reddiar Colony 4th Street?

The current guideline value of Gopal Reddiar Colony 4th 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 several times, starting 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 is the land classification for Gopal Reddiar Colony 4th Street?

The land classification for Gopal Reddiar Colony 4th Street is Residential Special Type - I.

Where can I find the Sembiam Sub Registrar Office?

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

How is the stamp duty calculated for properties in Gopal Reddiar Colony 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 49,00,000, the stamp duty at 7% would be Rs 3,43,000.