Guideline Value for Gopalapuram 7th Street

Gopalapuram 7th Street guideline value

The current guideline value of Gopalapuram 7th Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 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 7th Street has changed

The guideline value for Gopalapuram 7th Street has undergone several revisions over the years. The register does not have figures 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 the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, the register does not contain any figures for Gopalapuram 7th Street. The current guideline value of Rs 14,300 per sq.ft places this street above the median value for Mylapore Part 2, which is Rs 8,800 per sq.ft based on the 2024 figures for the village.

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. Gopalapuram 7th Street's 2024 guideline value is Rs 14,300 per sq.ft, which is significantly above the median of Rs 8,800 per sq.ft. Below is a list of other streets in Mylapore Part 2:

• Gopalapuram 6th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 8th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 5th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 4th 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 7th 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, 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopalapuram 7th Street?

The Sub Registrar Office that covers Gopalapuram 7th 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 details.

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

The guideline value is a crucial factor 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 that need to be paid during the transaction.

When a property is registered, the guideline value is assessed to ensure that the correct fees are applied. This ensures transparency in property transactions and helps in maintaining a standard valuation across different properties within the same locality.

Frequently asked questions

What is the current guideline value of Gopalapuram 7th Street?

The current guideline value of Gopalapuram 7th Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

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

What is the land classification for Gopalapuram 7th Street?

The land classification for Gopalapuram 7th Street is Residential Special Type - IV.

Where can I find the Sub Registrar Office for Gopalapuram 7th Street?

The Sub Registrar Office for Gopalapuram 7th Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Gopalapuram 7th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 10,01,000.