Guideline Value for Gopal chetty street (Javer street)

Gopal chetty street (Javer street) guideline value

The current guideline value of Gopal chetty street (Javer street) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Gopal chetty street (Javer street) has changed

The guideline value of Gopal chetty street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 905 per sq.ft. This increased to Rs 1,029 per sq.ft in 2003, marking a 14% rise. By 2007, the value jumped significantly to Rs 1,500 per sq.ft, reflecting a 46% increase. The 2012 revision saw the value rise to Rs 4,500 per sq.ft, a substantial 200% increase from the previous figure. However, in 2017, the value decreased to Rs 3,015 per sq.ft, representing a decline of 33%. The value then increased to Rs 4,500 per sq.ft in 2023, and finally, it reached Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 441%. There are no recorded figures for Gopal chetty street in the years between these revisions.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. Gopal chetty street's 2024 value is below this median.

• Gopal street: Rs 4,900 per sq.ft (2024)
• Gomes road: Rs 7,700 per sq.ft (2024)
• Godown Street(Narayanasamy Garden Street): Rs 4,900 per sq.ft (2024)
• Granary street: Rs 7,100 per sq.ft (2024)
• Grimini street: Rs 3,800 per sq.ft (2024)
• Girims street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal chetty street (Javer street)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total charges together Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopal chetty street (Javer street)?

The Sub Registrar Office that covers Gopal chetty street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Muthialpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the expected value of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations for their property’s worth.

Frequently asked questions

What is the current guideline value of Gopal chetty street?

The current guideline value of Gopal chetty street (Javer street) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 905 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, showing a significant overall increase of 441% over this period.

What is the land classification for Gopal chetty street?

The land classification for Gopal chetty street is Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Gopal chetty street?

The Sub Registrar Office for Gopal chetty street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

How is stamp duty calculated for properties in Gopal chetty street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 3,43,000.