Guideline Value for Gopal Reddiar Colony 5th Street

Gopal Reddiar Colony 5th Street guideline value

The current guideline value of Gopal Reddiar Colony 5th 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 5th Street has changed

The guideline value for Gopal Reddiar Colony 5th Street has undergone several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this value then decreased to Rs 3,015 per sq.ft in 2017. Following that, the value saw a substantial rise to Rs 4,500 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 4,900 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2024, the guideline value has increased by 444%. The change from 2012 to 2017 was a decrease of 33%, while the increase from 2017 to 2023 was 49%. The most recent change from 2023 to 2024 reflects an increase of 9%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO carrying 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 Street is above this median.

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

Stamp duty and registration fee for property in Gopal Reddiar Colony 5th 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, totaling 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 the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Gopal Reddiar Colony 5th 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 critical 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 government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Gopal Reddiar Colony 5th Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much 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, reflecting an overall increase of 444% over this period.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Gopal Reddiar Colony 5th Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find more information about the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. More information can be found by visiting the provided link to find your SRO.

What is the land classification for Gopal Reddiar Colony 5th Street?

Gopal Reddiar Colony 5th Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.