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

How the guideline value of Gopalapuram 6th Street has changed

The guideline value for Gopalapuram 6th Street has seen changes over the years, with the most recent revision occurring in 2024, where it increased to Rs 14,300 per sq.ft from Rs 13,000 per sq.ft in 2023. This represents a change of +10% from the previous year.

There are no figures available for the revisions in the years 2002, 2003, 2007, 2012, and 2017. The only recorded figures are from 2023 and 2024.

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 guideline value in this area is Rs 8,800 per sq.ft, making the 2024 figure for Gopalapuram 6th Street 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 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, while the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Gopalapuram 6th Street?

The Gopalapuram 6th Street falls under the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your specific SRO, you can visit find your SRO.

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 of property transactions. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the financial aspects of property transactions in Mylapore Part 2. This value helps in establishing a fair basis for the transaction and ensures compliance with local regulations.

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 has the guideline value changed over the years?

The guideline value for Gopalapuram 6th Street has changed from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the revisions in the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Mylapore Part 2?

Other streets in Mylapore Part 2 have guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft, with the median being Rs 8,800 per sq.ft. Gopalapuram 6th Street's value is above this median.

What fees are associated with buying property in Gopalapuram 6th Street?

For a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000 and the registration fee would be Rs 2,86,000, totaling Rs 12,87,000. These fees are based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Gopalapuram 6th Street located?

The Sub Registrar Office covering Gopalapuram 6th Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office is part of the Chennai Central Joint I SRO.