Guideline Value for Gopal Street / Gokulam Colony

Gopal Street / Gokulam Colony guideline value

The current guideline value of Gopal Street / Gokulam Colony is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Gopal Street / Gokulam Colony has changed

The guideline value for Gopal Street / Gokulam Colony has seen significant changes over the years. Starting from Rs 200 per sq.ft in 2002, the value increased to Rs 226 per sq.ft in 2003, marking a 13% rise. In 2007, the value further escalated to Rs 360 per sq.ft, reflecting a 59% increase. The 2017 revision recorded a substantial jump to Rs 1,675 per sq.ft, which is a 365% increase from 2007. The 2023 revision set the value at Rs 2,500 per sq.ft, a 49% rise from 2017. The most recent 2024 revision has increased the guideline value to Rs 2,750 per sq.ft, indicating a 10% increase from the previous year. Notably, there is no figure available for this street in the 2012 revision.

Overall, from 2002 to 2024, the guideline value has increased by 1,275%. This significant rise underscores the evolving landscape of property values in the area.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing Gopal Street / Gokulam Colony's 2024 figure above this median.

• Gopal Street / Anna Salai: Rs 1,980 per sq.ft (2024)
• Gopal Street, Pammal: Rs 1,980 per sq.ft (2024)
• Gouthaman Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Gokulay Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Gokulam Colony, Pammal: Rs 2,750 per sq.ft (2024)
• Gokulam Colony (2nd Street): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Street / Gokulam Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopal Street / Gokulam Colony?

The Sub Registrar Office covering Gopal Street / Gokulam Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value serves as a benchmark for assessing the transaction's legitimacy. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements and to avoid potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Gopal Street / Gokulam Colony?

The current guideline value of Gopal Street / Gokulam Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 200 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,275% over this period.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which is lower than the current value of Gopal Street / Gokulam Colony.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500 in fees.

Where is the Sub Registrar Office located for Gopal Street / Gokulam Colony?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.