Guideline Value for Gopalapuram 5th Street

Gopalapuram 5th Street guideline value

The current guideline value of Gopalapuram 5th 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 it falls under the land classification of Residential Special Type - IV.

How the guideline value of Gopalapuram 5th Street has changed

There are no figures available for Gopalapuram 5th Street in the revisions for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 13,000 per sq.ft in 2023, and it increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

The 2024 revision marks a significant change from the previous year. The increase from Rs 13,000 to Rs 14,300 reflects the latest valuation adjustments for this street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Gopalapuram 5th Street's 2024 figure above the median.

• Gopalapuram 4th 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)
• Gopalapuram 3rd Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 8th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 2nd Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gopalapuram 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopalapuram 5th Street?

The Gopalapuram 5th Street is covered by 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 an essential factor in the registration process of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Gopalapuram 5th Street?

The current guideline value of Gopalapuram 5th 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 increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, representing a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Gopalapuram 5th Street?

Gopalapuram 5th Street is classified as Residential Special Type - IV. This classification is important for understanding the type of development allowed in the area.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 12,87,000 in duties and fees based on the current guideline value.

Where can I find the Sub Registrar Office for Gopalapuram 5th Street?

The Sub Registrar Office covering Gopalapuram 5th Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more information about your SRO online.