Guideline Value for Gopal Thottam

Gopal Thottam guideline value

The current guideline value of Gopal Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Gopal Thottam has changed

In the 2023 revision, the guideline value for Gopal Thottam was recorded at Rs 1,500 per sq.ft. The change from 2023 to 2024 reflects an increase of 13%, bringing the current value to Rs 1,700 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only recorded revisions for Gopal Thottam are from 2023 and 2024. The increase from Rs 1,500 to Rs 1,700 indicates a significant adjustment in the guideline value over this one-year period.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Gopal Thottam is below this median.

• GOPIKRISHNA VRINDAVAN 2nd CROSS STREET: Rs 3,300 per sq.ft (2024)
• GOVINDARAJ 4th CROSS STREET (NEAR DAVARAJ NAGAR): Rs 5,000 per sq.ft (2024)
• Govindaraj Street: Rs 1,700 per sq.ft (2024)
• Govindsamy 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Govindsamy 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Govindsamy 3rd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total charges to Rs 1,53,000. It is important to note that the 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 precise calculations based on your property transaction.

Which Sub Registrar Office covers Gopal Thottam?

The Sub Registrar Office that covers Gopal Thottam is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in property transactions in Sholinganallur - 1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will require adherence to these guidelines.

When registering a property, the guideline value is used to calculate stamp duty and registration fees, ensuring that all transactions are compliant with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Gopal Thottam?

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

How has the guideline value changed over the years?

The guideline value of Gopal Thottam was Rs 1,500 per sq.ft in 2023 and increased to Rs 1,700 per sq.ft in 2024, reflecting a 13% rise. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Gopal Thottam?

The Neelankarai Sub Registrar Office handles registrations for Gopal Thottam, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification of Gopal Thottam?

Gopal Thottam is classified as Residential Class IV Type - I, indicating its suitability for residential development within the area.