Guideline Value for Gopalan Street (V.P)

Gopalan Street (V.P) guideline value

The current guideline value of Gopalan Street (V.P) is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO and is classified as Commercial Class I Type - I.

How the guideline value of Gopalan Street (V.P) has changed

The guideline value for Gopalan Street (V.P) has undergone several revisions over the years. In 2007, the guideline value was Rs 1,210 per sq.ft. This figure increased significantly to Rs 6,500 per sq.ft in 2012, marking a rise of 437%. However, the value then decreased to Rs 4,355 per sq.ft in 2017, reflecting a drop of 33%. The value saw a substantial increase of 49% to reach Rs 6,500 per sq.ft in 2023, before rising again to the current value of Rs 7,100 per sq.ft in the 2024 revision, which is a 9% increase.

It is important to note that there are no figures available for Gopalan Street (V.P) in the revisions for 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 487%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Gopalan Street (V.P) above this median.

• Gopalan Street (W.M): Rs 6,000 per sq.ft (2024)
• Gopal Street (JPT): Rs 5,500 per sq.ft (2024)
• Gopal Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Gothandan Street: Rs 4,100 per sq.ft (2024)
• Gothandaramapillai Garden: Rs 4,100 per sq.ft (2024)
• Govindan Street Block 62: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gopalan Street (V.P)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopalan Street (V.P)?

The Sub Registrar Office that covers Gopalan Street (V.P) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers should be aware that the guideline value can influence the overall costs associated with property transactions.

When a property is registered, the guideline value serves as a baseline for calculating the applicable fees. This ensures that the registration process is transparent and consistent across various properties within the same locality.

Frequently asked questions

What is the current guideline value of Gopalan Street (V.P)?

The current guideline value of Gopalan Street (V.P) is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 487% over the years.

What are the stamp duty and registration fees for properties in Gopalan Street (V.P)?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office handles registrations for Gopalan Street (V.P)?

The Ashok Nagar Sub Registrar Office handles registrations for Gopalan Street (V.P), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Gopalan Street (V.P)?

Gopalan Street (V.P) is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.