Guideline Value for Gopalapuram 1st Street

Gopalapuram 1st Street guideline value

The current guideline value of Gopalapuram 1st Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the jurisdiction of the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Gopalapuram 1st Street has changed

Over the years, the guideline value of Gopalapuram 1st Street has seen significant changes. In 2002, the value was Rs 360 per sq.ft, which increased to Rs 392 per sq.ft in 2003. By 2007, it rose dramatically to Rs 700 per sq.ft, marking a 79% increase from the previous revision. The value then surged to Rs 3,000 per sq.ft in 2012, a substantial increase of 329%. However, it dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. Following this, the value increased to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,301 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 817%. Notably, there are no figures for Gopalapuram 1st Street in the revisions for the years not mentioned in the provided data.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value is Rs 3,301 per sq.ft, which is the same as the current value for Gopalapuram 1st Street.

• Gopalapuram 2nd Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram 3rd Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram Bajanai Koil 1st Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram Bajanai Koil 2nd Street: Rs 3,300 per sq.ft (2024)
• Gopalapuram Bajanai Koil 3rd Street: Rs 3,301 per sq.ft (2024)
• Govindasamy Street (Vetri Nagar): Rs 3,301 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 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty is calculated at 7%, which comes to Rs 2,31,070, and the registration fee is charged at 2%, amounting to Rs 66,020. Therefore, the total cost for stamp duty and registration fee together is Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gopalapuram 1st Street?

The Gopalapuram 1st Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For further assistance, you can find your SRO online.

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

The guideline value is a crucial factor in property transactions in Peravallur. It serves as a benchmark for determining the minimum price at which a property can be sold or registered. When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value will be used to calculate the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that the government receives the appropriate taxes based on the property's worth. This process helps maintain transparency and fairness in property transactions, ensuring that all parties are aware of the costs involved.

Frequently asked questions

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

The current guideline value of Gopalapuram 1st Street is Rs 3,301 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 360 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 817% over this period.

What is the stamp duty rate for properties in Gopalapuram 1st Street?

The stamp duty rate for properties in Gopalapuram 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum price for property transactions and is essential for calculating stamp duty and registration fees during the registration process.