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

How the guideline value of Gopalapuram 5th Street has changed

The guideline value for Gopalapuram 5th Street has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that in 2023, the guideline value was Rs 13,000 per sq.ft, which increased to Rs 14,300 per sq.ft in 2024, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for the street in the register. The current value of Rs 14,300 per sq.ft is the highest recorded 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 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value is Rs 8,800 per sq.ft, indicating that Gopalapuram 5th Street's 2024 figure is above that 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 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, bringing the total to 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 further calculations.

Which Sub Registrar Office covers Gopalapuram 5th Street?

The Gopalapuram 5th 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 details.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role 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 used to calculate the necessary fees, ensuring that all transactions are conducted transparently and fairly. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

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 much has the guideline value changed recently?

Recently, the guideline value increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a change of +10%.

What is the classification of Gopalapuram 5th Street?

Gopalapuram 5th Street is classified as Residential Special Type - IV under the Chennai Central Joint I SRO.

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.

How is the stamp duty calculated for properties in Gopalapuram 5th Street?

Stamp duty for properties in Gopalapuram 5th Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees can be calculated using the current guideline value.