Guideline Value for Gopalapuram 2nd Street

Gopalapuram 2nd Street guideline value

The current guideline value of Gopalapuram 2nd Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, and the land classification is Residential Special Type - II.

How the guideline value of Gopalapuram 2nd Street has changed

The guideline value for Gopalapuram 2nd Street has seen several revisions over the years. In 2002, the value was Rs 360 per sq.ft, which increased to Rs 392 per sq.ft in 2003. The value then rose significantly to Rs 700 per sq.ft in 2007, followed by a substantial jump to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017, before increasing again to Rs 3,000 per sq.ft in 2023, and finally reaching Rs 3,301 per sq.ft in 2024. The changes between revisions include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 329% increase from 2007 to 2012, a 79% increase from 2003 to 2007, and a 9% increase from 2002 to 2003.

There are no figures available for the years not listed in the register for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value 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 2nd Street.

• Gopalapuram 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, making the total cost Rs 2,97,090. It is important to note that the 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 2nd Street?

The Sub Registrar Office that covers Gopalapuram 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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 is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value reflects the government’s assessment of the property's worth and is updated periodically to ensure it aligns with current market conditions.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gopalapuram 2nd Street?

The current guideline value of Gopalapuram 2nd 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, with various increases and decreases along the way.

What is the land classification for Gopalapuram 2nd Street?

The land classification for Gopalapuram 2nd Street is Residential Special Type - II.

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 stamp duty calculated for properties in Gopalapuram 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070 at a rate of 7%.