Guideline Value for Gopal Reddy Estate

Gopal Reddy Estate guideline value

The current guideline value of Gopal Reddy Estate is Rs 1,700 per sq.ft, effective from 1 July 2024. This property is located in Jampuli village, under the Madhavaram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Gopal Reddy Estate has changed

The guideline value for Gopal Reddy Estate has seen several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in 2017. In 2023, the value increased to Rs 1,600 per sq.ft, and in the most recent revision for 2024, it stands at Rs 1,700 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, notable changes include a 49% increase from 2017 to 2023, and a 6% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Jampuli

In Jampuli, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value for Gopal Reddy Estate is below this median.

• Govindasamy Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Govindasamy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Govindasamy Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Govindasamy Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Govindasamy Nagar Annex: Rs 2,200 per sq.ft (2024)
• Govindasamy Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Reddy Estate

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopal Reddy Estate?

The Gopal Reddy Estate falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional information.

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

The guideline value is an essential aspect of property transactions in Jampuli, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer.

During the registration process, the guideline value is assessed to ensure that the property is not undervalued. This ensures transparency and compliance with local regulations, safeguarding both buyers and sellers in property transactions.

Frequently asked questions

What is the current guideline value of Gopal Reddy Estate?

The current guideline value of Gopal Reddy Estate is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the registration office for Gopal Reddy Estate?

The registration office for Gopal Reddy Estate is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty rates applicable?

The stamp duty is charged at a rate of 7% on the guideline value or the sale price, whichever is higher. This is applicable during the registration of property transactions.

What is the median guideline value for streets in Jampuli?

The median guideline value for streets in Jampuli is Rs 2,450 per sq.ft, with Gopal Reddy Estate's guideline value being below this median at Rs 1,700 per sq.ft.