Guideline Value for Gopal Reddiar Colony 5th Cross Street

Gopal Reddiar Colony 5th Cross Street guideline value

The current guideline value of Gopal Reddiar Colony 5th Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Gopal Reddiar Colony 5th Cross Street has changed

The guideline value for Gopal Reddiar Colony 5th Cross 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 2012. However, this value dropped to Rs 3,015 per sq.ft in 2017. The next revision in 2023 set the value at Rs 4,500 per sq.ft, and the latest revision in 2024 raised it to Rs 4,900 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 400%. However, from 2012 to 2017, there was a decrease of 33%. The value then rose by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 444%.

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 5th Cross Street is above this median.

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

Stamp duty and registration fee for property in Gopal Reddiar Colony 5th 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, making the total cost for these fees Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Gopal Reddiar Colony 5th Cross Street?

The Gopal Reddiar Colony 5th Cross Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees.

When buying or selling property, it is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. This means that if the sale price is lower than the guideline value, the buyer will still need to pay duty based on the guideline value.

Frequently asked questions

What is the current guideline value of Gopal Reddiar Colony 5th Cross Street?

The current guideline value of Gopal Reddiar Colony 5th 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, increasing from Rs 900 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, which is an overall increase of 444%.

What are the other streets with the same guideline value in Sembiam?

Other streets in Sembiam that share the same guideline value of Rs 4,900 per sq.ft in 2024 include Gopal Reddiar Colony 4th Street, Gopal Reddiar Colony 5th Street, Gopal Reddiar Colony 4th Cross Street, Gopal Reddiar Colony 6th Cross Street, Gopal Reddiar Colony 3rd Street, and Gopal Reddiar Colony 6th Street.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Gopal Reddiar Colony 5th Cross Street?

Stamp duty for properties in Gopal Reddiar Colony 5th Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.