Guideline Value for Gopal Street (JPT)

Gopal Street (JPT) guideline value

The current guideline value of Gopal Street (JPT) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Gopal Street (JPT) has changed

Over the years, the guideline value of Gopal Street (JPT) has seen significant changes. In 2007, the guideline value was Rs 1,210 per sq.ft. This increased to Rs 5,000 per sq.ft in 2012, marking a substantial rise of 313%. However, between 2012 and 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024, which is an increase of 10% from the previous year.

From 2017 to 2023, the value increased by 49%, and overall, from 2007 to 2024, the guideline value has risen by 355%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Gopal Street (JPT) above this median.

• Gopal Street(M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Gothandan Street: Rs 4,100 per sq.ft (2024)
• Gothandaramapillai Garden: Rs 4,100 per sq.ft (2024)
• Gopalan Street (W.M): Rs 6,000 per sq.ft (2024)
• Govindan Street Block 62: Rs 7,700 per sq.ft (2024)
• Gopalan Street (V.P): Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Street (JPT)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopal Street (JPT)?

The Sub Registrar Office that covers Gopal Street (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees, which are mandatory expenses for buyers and sellers in the area.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the current market conditions and property values.

Frequently asked questions

What is the current guideline value of Gopal Street (JPT)?

The current guideline value of Gopal Street (JPT) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 355%.

What are the stamp duty and registration fees for properties in Gopal Street (JPT)?

For a 1,000 sq.ft plot, the total stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Gopal Street (JPT)?

The Ashok Nagar Sub Registrar Office covers Gopal Street (JPT), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Gopal Street (JPT) being above this median at Rs 5,500 per sq.ft.