Guideline Value for Gopalakrishnan Street

Gopalakrishnan Street guideline value

The current guideline value of Gopalakrishnan Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Gopalakrishnan Street has changed

The guideline value for Gopalakrishnan Street has seen significant changes over the years. In 2002, the value was Rs 330 per sq.ft, which increased to Rs 376 per sq.ft in 2003. The value continued to rise, reaching Rs 900 per sq.ft in 2007, and then saw a remarkable jump to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017 before climbing again to Rs 3,500 per sq.ft in 2023, and finally reaching Rs 3,900 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,082%. The register has no figures for the years not mentioned above, indicating that those revisions do not apply to Gopalakrishnan Street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of Gopalakrishnan Street.

• Goodshed Road: Rs 3,900 per sq.ft (2024)
• Goodshed 3rd Lane: Rs 3,900 per sq.ft (2024)
• Goodshed 2nd Lane: Rs 2,800 per sq.ft (2024)
• Goodshed 1st Lane: Rs 3,900 per sq.ft (2024)
• Godhavari Street: Rs 3,900 per sq.ft (2024)
• G S T Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Gopalakrishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, together totaling Rs 3,51,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopalakrishnan Street?

The Sub Registrar Office that covers Gopalakrishnan 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 Adambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Gopalakrishnan Street?

The current guideline value of Gopalakrishnan Street is Rs 3,900 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 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,082% over this period.

What is the land classification of Gopalakrishnan Street?

Gopalakrishnan Street is classified as Residential Class I Type - III under the Alandur SRO.

Where can I find the Sub Registrar Office for Gopalakrishnan Street?

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

How is stamp duty calculated for properties in Gopalakrishnan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at a rate of 7%.