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 2 village under the Chennai Central Joint I SRO, with a land classification of 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 has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 13,000 per sq.ft, which increased to Rs 14,300 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, the last recorded figure was from 2024, which stands at Rs 14,300 per sq.ft. This shows a significant increase from the previous year, reflecting the latest adjustments made in the guideline value for this street.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Gopalapuram 1st Street's 2024 figure above this 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 amounts to 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, making the total cost together Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor when registering property transactions in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or bought, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the Registration Department. This process aids in maintaining transparency and consistency in property dealings.

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 much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 13,000 per sq.ft to Rs 14,300 per sq.ft, which is a change of +10%.

What is the land classification for Gopalapuram 1st Street?

The land classification for Gopalapuram 1st Street is Residential Special Type - IV.

Which office handles registrations for Gopalapuram 1st Street?

The Chennai Central Joint I Sub Registrar Office handles registrations for Gopalapuram 1st Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

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

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 plot at the current guideline value, the stamp duty would be Rs 10,01,000.