Guideline Value for Gopalapuram 8th Street

Gopalapuram 8th Street guideline value

The current guideline value of Gopalapuram 8th Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is part of 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 8th Street has changed

The guideline value for Gopalapuram 8th Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that the guideline value was Rs 13,000 per sq.ft in 2023, which increased by 10% to Rs 14,300 per sq.ft in 2024.

This increase reflects the adjustments made in the guideline value register, highlighting the changes in property valuation over the years. The 2024 revision marks a significant update for this street, aligning it with other streets in the vicinity that share the same rate.

Guideline values in Mylapore Part 2

Mylapore Part 2 contains 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 for the area is Rs 8,800 per sq.ft, placing Gopalapuram 8th Street's current 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 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, totaling Rs 12,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value is a crucial factor during property registration in Mylapore Part 2. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. Buyers and sellers must be aware of this value to facilitate a smooth registration process and comply with legal requirements.

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 in recent years?

In 2023, the guideline value was Rs 13,000 per sq.ft, which increased by 10% to Rs 14,300 per sq.ft in 2024. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Gopalapuram 8th Street?

The land classification for Gopalapuram 8th Street is Residential Special Type - IV, indicating the type of development permissible in this area.

What are the stamp duty and registration fees for a property here?

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. The duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Gopalapuram 8th Street?

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