Guideline Value for Gopalapuram 6th Street

Gopalapuram 6th Street guideline value

The current guideline value of Gopalapuram 6th Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Gopalapuram 6th Street has changed

The guideline value for Gopalapuram 6th Street has undergone several revisions. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 13,000 per sq.ft, and it increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

Prior to the 2023 revision, there were no recorded values for the specified years. The most recent change reflects a significant adjustment in the guideline value, indicating an increase in the valuation of 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 value is Rs 8,800 per sq.ft, and Gopalapuram 6th Street's 2024 figure is above this median.

• Gopalapuram 5th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 7th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 4th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 8th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 3rd 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 6th 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 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 more details.

Which Sub Registrar Office covers Gopalapuram 6th Street?

The Sub Registrar Office that covers Gopalapuram 6th Street is 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 important factor when registering property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, which is crucial for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Gopalapuram 6th Street?

The current guideline value of Gopalapuram 6th 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, marking a 10% increase.

What are the other streets in Mylapore Part 1 with the same guideline value?

Other streets in Mylapore Part 1 with the same guideline value of Rs 14,300 per sq.ft include Gopalapuram 5th Street, Gopalapuram 7th Street, Gopalapuram 4th Street, Gopalapuram 8th Street, Gopalapuram 3rd Street, and Gopalapuram 2nd Street.

Where can I find the Sub Registrar Office for Gopalapuram 6th Street?

The Sub Registrar Office for Gopalapuram 6th Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Gopalapuram 6th Street?

Stamp duty for properties in Gopalapuram 6th Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000 at a rate of 7%.