Guideline Value for Gopalakrishnan Gokale Street

Gopalakrishnan Gokale Street guideline value

The current guideline value of Gopalakrishnan Gokale Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gopalakrishnan Gokale Street has changed

The guideline value for Gopalakrishnan Gokale Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 318 per sq.ft. This increased to Rs 356 per sq.ft in 2003, marking a rise of 12%. The value then saw a substantial increase to Rs 1,200 per sq.ft in 2007, which was a 237% increase. In 2012, the value was Rs 2,500 per sq.ft, reflecting a significant increase of 108% from the previous revision. However, in 2017, it decreased to Rs 1,675 per sq.ft, a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and finally, it reached the current figure of Rs 2,800 per sq.ft in 2024, marking an increase of 12% from the previous year.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 781%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,800 per sq.ft, which is equal to the current guideline value of Gopalakrishnan Gokale Street.

• Gopinathan 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 5th Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gopalakrishnan Gokale Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, leading to a total of Rs 2,52,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopalakrishnan Gokale Street?

The Sub Registrar Office that covers Gopalakrishnan Gokale Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, this value helps ensure that the transaction is recorded accurately in the official register.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal transactions. This ensures that both the buyer and seller comply with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Gopalakrishnan Gokale Street?

The current guideline value of Gopalakrishnan Gokale Street 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, starting from Rs 318 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 781%.

What is the land classification for Gopalakrishnan Gokale Street?

The land classification for Gopalakrishnan Gokale Street is Residential Class II Type - I.

What are the stamp duty and registration fees for properties on this street?

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

Where is the Sub Registrar Office for Gopalakrishnan Gokale Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.