Guideline Value for Gopalapuram 3rd Street

Gopalapuram 3rd Street guideline value

The current guideline value of Gopalapuram 3rd 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 3rd Street has changed

There are no figures available for Gopalapuram 3rd Street in the register for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 13,000 per sq.ft, and the most recent revision in 2024 increased it to Rs 14,300 per sq.ft, reflecting a change of +10%.

The 2024 figure of Rs 14,300 per sq.ft is the latest revision, and it indicates a significant increase from the previous year's value. The consistent rise in the guideline value suggests an adjustment in the pricing structure for properties in this area.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 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 guideline value for this area is Rs 8,800 per sq.ft, placing Gopalapuram 3rd Street's 2024 figure above that median.

• Gopalapuram 2nd 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 1st 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the 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, totaling Rs 12,87,000. 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 3rd Street?

The Gopalapuram 3rd 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 1. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Gopalapuram 3rd Street?

The current guideline value of Gopalapuram 3rd 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 for Gopalapuram 3rd Street has seen an increase from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, marking a 10% rise.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft, which is lower than the current value of Gopalapuram 3rd Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,43,00,000, the total stamp duty and registration fees would be Rs 12,87,000, based on the current guideline value.

Which office handles the registration for Gopalapuram 3rd Street?

The registration for Gopalapuram 3rd Street is handled by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.