Guideline Value for GopalSwami Nagar

GopalSwami Nagar guideline value

The current guideline value of GopalSwami Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Egmore village, under the Periamet SRO, and is classified as Residential Class IV Type - I.

How the guideline value of GopalSwami Nagar has changed

The guideline value for GopalSwami Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 749 per sq.ft, which increased to Rs 826 per sq.ft in 2003. Subsequent revisions showed significant changes, with the value rising to Rs 1,500 per sq.ft in 2007, then to Rs 2,600 per sq.ft in 2012. However, it decreased to Rs 1,742 per sq.ft in 2017 before increasing to Rs 2,600 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft, marking an 8% increase from the previous year.

Analyzing the changes, from 2017 to 2023, the value rose by 49%. The period from 2012 to 2017 saw a decrease of 33%, while the value increased by 73% from 2007 to 2012. The increase from 2003 to 2007 was notable at 82%, and from 2002 to 2003, the rise was 10%. Overall, from 2002 to 2024, the guideline value has increased by 274%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, indicating that GopalSwami Nagar's 2024 figure is below this median.

• Goyya thoppuStreet: Rs 3,900 per sq.ft (2024)
• GuganSalai: Rs 3,900 per sq.ft (2024)
• HallsLane: Rs 8,300 per sq.ft (2024)
• Halls Road(Egmore): Rs 15,000 per sq.ft (2024)
• Halls Road (Kilpauk): Rs 15,000 per sq.ft (2024)
• Gillcrist Avenue: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in GopalSwami Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. 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 GopalSwami Nagar?

The Sub Registrar Office that covers GopalSwami Nagar is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Egmore, as it determines the minimum value at which the property can be registered. It helps in calculating the stamp duty and registration fees that need to be paid during the registration process.

When a property is sold, the sale price must be equal to or higher than the guideline value to ensure compliance with regulations. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of GopalSwami Nagar?

The current guideline value of GopalSwami Nagar is Rs 2,800 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 749 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 274% over the years.

What is the median guideline value for streets in Egmore?

The median guideline value for streets in Egmore is Rs 7,100 per sq.ft, which is higher than the guideline value of GopalSwami Nagar.

What are the stamp duty and registration fees for GopalSwami Nagar?

For a property valued at Rs 28,00,000, the stamp duty is Rs 1,96,000 and the registration fee is Rs 56,000, totaling Rs 2,52,000.

Where can I find the Sub Registrar Office for GopalSwami Nagar?

The Sub Registrar Office for GopalSwami Nagar is located at 1103, Poonamallee High Road, Chennai-600 003. You can find more details online.