Guideline Value for Gopalan Street (W.M)

Gopalan Street (W.M) guideline value

The current guideline value of Gopalan Street (W.M) is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO and is classified as Residential Class II Type - III.

How the guideline value of Gopalan Street (W.M) has changed

The guideline value for Gopalan Street (W.M) has undergone several revisions over the years. The 2007 revision set the value at Rs 1,860 per sq.ft, which increased to Rs 5,500 per sq.ft in 2012. However, it saw a significant decrease to Rs 3,685 per sq.ft in 2017. The value then rose sharply to Rs 5,500 per sq.ft in 2023, and currently stands at Rs 6,000 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Overall, the guideline value has increased by 223% from 2007 to 2024. The changes between the revisions include a 196% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values 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 (W.M) above this median at Rs 6,000 per sq.ft.

• Gopalan Street (V.P): Rs 7,100 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 (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total cost to Rs 5,40,000. It is important to note that the 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 Gopalan Street (W.M)?

The Sub Registrar Office that covers Gopalan Street (W.M) 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 an essential factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gopalan Street (W.M)?

The current guideline value of Gopalan Street (W.M) is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,860 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, showing an overall increase of 223% over the years.

What is the classification of Gopalan Street (W.M)?

Gopalan Street (W.M) is classified as Residential Class II Type - III, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Gopalan Street (W.M)?

The Sub Registrar Office for Gopalan Street (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Gopalan Street (W.M)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 4,20,000.