Guideline Value for Gopalapuram 3rd Street

Gopalapuram 3rd Street guideline value

The current guideline value of Gopalapuram 3rd Street is Rs 3,301 per sq.ft. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Gopalapuram 3rd Street has changed

The guideline value for Gopalapuram 3rd Street has undergone 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, marking a 9% rise. The value saw a significant jump to Rs 700 per sq.ft in 2007, representing a 79% increase. By 2012, the guideline value reached Rs 3,000 per sq.ft, a substantial 329% increase from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a drop of 33%.

In 2023, the value was Rs 3,000 per sq.ft, and it increased by 10% to the current value of Rs 3,301 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 817%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Peravallur

Within the village of 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 value is Rs 3,301 per sq.ft, which is equal to the current guideline value of Gopalapuram 3rd Street.

• Gopalapuram 2nd Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram 1st 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 3rd 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 be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, making the total cost for these charges Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations based on your specific property details.

Which Sub Registrar Office covers Gopalapuram 3rd Street?

The Gopalapuram 3rd Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying, while sellers should consider it to set a competitive price for their property.

Frequently asked questions

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

The current guideline value of Gopalapuram 3rd 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 from Rs 360 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 817% over the years.

What is the land classification of Gopalapuram 3rd Street?

Gopalapuram 3rd Street is classified as 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 the stamp duty calculated for property in Gopalapuram 3rd Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.