Guideline Value for Gopal Reddiar Colony 6th Cross Street

Gopal Reddiar Colony 6th Cross Street guideline value

The current guideline value for Gopal Reddiar Colony 6th 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 6th Cross Street has changed

The guideline value for Gopal Reddiar Colony 6th Cross 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, in 2017, it decreased to Rs 3,015 per sq.ft. The value then rose sharply to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as of the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. Notably, the jump from 2007 to 2012 was a remarkable 400%. Overall, from 2007 to 2024, the guideline value has increased by 444%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sembiam

Sembiam village has a range of guideline values across its 250 streets under the Sembiam SRO, with figures for 2024 ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Gopal Reddiar Colony 6th Cross Street above that median.

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

Stamp duty and registration fee for property in Gopal Reddiar Colony 6th 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 at 7% would be 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. Please note that the duty is charged on the higher of the guideline value or the sale price.

To calculate your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopal Reddiar Colony 6th Cross Street?

The Gopal Reddiar Colony 6th Cross Street falls under the jurisdiction of 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 registering a property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Gopal Reddiar Colony 6th Cross Street?

The current guideline value for Gopal Reddiar Colony 6th 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 from Rs 900 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Gopal Reddiar Colony 6th Cross Street?

The land classification for Gopal Reddiar Colony 6th Cross Street is Residential Special Type - I.

Where is the Sembiam Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Sembiam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.