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 2 village under the Chennai Central Joint I SRO and is classified as Residential Special Type - IV.

How the guideline value of Gopalapuram 3rd Street has changed

The guideline value for Gopalapuram 3rd Street has undergone several revisions. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was 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, there were no figures available for the previous years listed. The latest figure of Rs 14,300 per sq.ft is the most current and reflects the latest valuation 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 a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, and Gopalapuram 3rd Street's 2024 figure is above this 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 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 amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total fees to Rs 12,87,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Gopalapuram 3rd Street?

The Gopalapuram 3rd Street falls under the jurisdiction of 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 2

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the fees collected are reflective of the property's value as recognized by the registration authorities.

Frequently asked questions

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

The current guideline value for 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 has changed from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, marking an increase of +10%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for property in Gopalapuram 3rd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,43,00,000. The stamp duty at 7% is Rs 10,01,000, and the registration fee at 2% is Rs 2,86,000, totaling Rs 12,87,000.

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.

What is the land classification for Gopalapuram 3rd Street?

The land classification for Gopalapuram 3rd Street is Residential Special Type - IV, indicating its designated use for residential purposes.