Guideline Value for Gopal Street

Gopal Street guideline value

The current guideline value of Gopal Street in Porunthavakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Gopal Street has changed

The guideline value for Gopal Street has seen significant changes over the years. In 2003, the guideline value was Rs 484 per sq.ft, which increased to Rs 700 per sq.ft in 2007. Following this, there was a considerable rise to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and finally, it stands at Rs 3,300 per sq.ft as of the 2024 revision. The register has no figure for the year 2002 for this street.

Overall, from 2003 to 2024, the guideline value has increased by 582%. Notably, the change from 2023 to 2024 reflects a 10% increase, while the jump from 2017 to 2023 was 49%. The years 2012 to 2017 saw a decrease of 33%, and the period from 2007 to 2012 experienced a remarkable increase of 329%. The increase from 2003 to 2007 was 45%.

Guideline values in Porunthavakkam

In Porunthavakkam, there are 23 streets under the Pallavaram SRO that have a guideline value for 2024, ranging from Rs 1,760 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, placing Gopal Street's 2024 figure above this median.

• Iyapa Nagar: Rs 1,760 per sq.ft (2024)
• Jemes Street: Rs 2,420 per sq.ft (2024)
• Kalaivani Street: Rs 2,420 per sq.ft (2024)
• Kalyani Street: Rs 2,420 per sq.ft (2024)
• Kalyaniyammal Street: Rs 2,420 per sq.ft (2024)
• Kamaraj Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, these fees total Rs 2,97,000. It is important to note that 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 details.

Which Sub Registrar Office covers Gopal Street?

The Sub Registrar Office that covers Gopal Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Porunthavakkam. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that property transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps to determine the official value of the property for registration purposes. Buyers should be aware that the stamp duty and registration fees will be based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Gopal Street?

The current guideline value of Gopal Street is Rs 3,300 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 484 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 582% over this period.

What is the median guideline value in Porunthavakkam?

The median guideline value in Porunthavakkam for 2024 is Rs 2,420 per sq.ft, with Gopal Street's value being above this median.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, resulting in a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Gopal Street?

The Pallavaram Sub Registrar Office handles property registrations for Gopal Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.