Guideline Value for Gopalapuram 1st Street

Gopalapuram 1st Street guideline value

The current guideline value of Gopalapuram 1st Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, and the land classification is Residential Special Type - IV.

How the guideline value of Gopalapuram 1st Street has changed

The guideline value for Gopalapuram 1st Street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 13,000 per sq.ft, which was then increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

In summary, the guideline value increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. This change reflects a notable adjustment in property valuation for this street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value range from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, making Gopalapuram 1st Street's 2024 figure above that median.

• Gopalapuram 2nd Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 3rd Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 4th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 5th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 6th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 7th Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gopalapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopalapuram 1st Street?

The Gopalapuram 1st Street falls under the Chennai Central Joint I Sub Registrar Office located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor in property transactions in Mylapore Part 1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the registration office uses the guideline value to calculate applicable fees, including stamp duty and registration fees. This ensures that the transaction is recorded accurately and reflects the value set by the government.

Frequently asked questions

What is the current guideline value of Gopalapuram 1st Street?

The current guideline value of Gopalapuram 1st Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Gopalapuram 1st Street?

The land classification for Gopalapuram 1st Street is Residential Special Type - IV. This classification affects the guideline value and property usage regulations.

Where can I find the Sub Registrar Office for Gopalapuram 1st Street?

The Sub Registrar Office covering Gopalapuram 1st Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles all registrations for properties in the area.

How is stamp duty calculated for properties in Gopalapuram 1st Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 1,43,00,000 would incur a stamp duty of Rs 10,01,000 at the rate of 7%.