Guideline Value for Gopalapuram 8th Street

Gopalapuram 8th Street guideline value

The current guideline value for Gopalapuram 8th Street is Rs 14,300 per sq.ft. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, with a land classification of Residential Special Type - IV.

How the guideline value of Gopalapuram 8th Street has changed

The guideline value for Gopalapuram 8th Street has undergone several revisions. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 13,000 per sq.ft, which was then increased by 10% to Rs 14,300 per sq.ft in the 2024 revision, effective from 1 July 2024.

In summary, the guideline value rose from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. This increase reflects a 10% change between the two revisions.

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 guideline value is Rs 8,800 per sq.ft, placing Gopalapuram 8th Street's 2024 figure above this median.

• Gopalapuram 7th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 6th 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 8th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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 information.

Which Sub Registrar Office covers Gopalapuram 8th Street?

The Sub Registrar Office that covers Gopalapuram 8th 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 1

The guideline value is a crucial factor during the registration process when buying or selling property in Mylapore Part 1. It helps determine the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for taxation purposes. Buyers and sellers should be aware of the current guideline value to accurately assess their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Gopalapuram 8th Street?

The current guideline value of Gopalapuram 8th 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 8th Street was Rs 13,000 per sq.ft in 2023 and increased to Rs 14,300 per sq.ft in 2024, marking a 10% rise.

What is the land classification for Gopalapuram 8th Street?

The land classification for Gopalapuram 8th Street is Residential Special Type - IV.

Where can I find the Sub Registrar Office for Gopalapuram 8th Street?

The Sub Registrar Office for Gopalapuram 8th Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Gopalapuram 8th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 1,43,00,000 would incur a stamp duty of Rs 10,01,000 at 7%.