Guideline Value for Gopal Reddiar Colony 6th Street

Gopal Reddiar Colony 6th Street guideline value

The current guideline value for Gopal Reddiar Colony 6th Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village under the Sembiam SRO, classified as Residential Special Type - I.

How the guideline value of Gopal Reddiar Colony 6th Street has changed

The guideline value for Gopal Reddiar Colony 6th Street has seen several revisions over the years. The earliest recorded value is from 2007, where it was Rs 900 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 3,015 per sq.ft in 2017, which is a decline of 33% from the previous revision.

From 2017 to 2023, the guideline value increased to Rs 4,500 per sq.ft, reflecting a substantial rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 4,900 per sq.ft, a 9% increase from 2023. The register has no figures for the years 2002 and 2003 for this street.

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. Gopal Reddiar Colony 6th Street's 2024 guideline value is above this median.

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

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

The Sub Registrar Office covering Gopal Reddiar Colony 6th 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 in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees applicable during a property transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the value of the property accurately.

Frequently asked questions

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

The current guideline value for Gopal Reddiar Colony 6th 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 an overall increase of 444% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the higher of the guideline value or the sale price, while the registration fee is charged at 2% of the same value.

Which Sub Registrar Office handles registrations for this street?

The Sembiam Sub Registrar Office handles registrations for Gopal Reddiar Colony 6th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

Where can I find more information about other streets in Sembiam?

You can find information about other streets in Sembiam by checking their respective guideline values, which are available on the Sembiam SRO website.