Guideline Value for Gopalapuram Bajanai Koil 2nd Street

Gopalapuram Bajanai Koil 2nd Street guideline value

The current guideline value of Gopalapuram Bajanai Koil 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, and it is classified as Commercial Special Type - II.

How the guideline value of Gopalapuram Bajanai Koil 2nd Street has changed

The guideline value for Gopalapuram Bajanai Koil 2nd Street has seen several revisions over the years. In 2002, the value was Rs 340 per sq.ft, which increased to Rs 370 per sq.ft in 2003. Following this, the value rose significantly to Rs 700 per sq.ft in 2007. However, there was a decrease to Rs 3,000 per sq.ft in 2012. The value then dropped further to Rs 2,010 per sq.ft in 2017 before increasing again to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 871%. The changes between revisions highlight fluctuations in the property value, with notable increases from 2007 to 2012 (+329%) and from 2017 to 2023 (+49%). There are no figures available for the years not mentioned in the register for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which means Gopalapuram Bajanai Koil 2nd Street's 2024 figure is slightly below that median.

• Gopalapuram Bajanai Koil 1st Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram Bajanai Koil 3rd Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram 3rd Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram 2nd Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram 1st Street: Rs 3,301 per sq.ft (2024)
• Govindasamy Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Gopalapuram Bajanai Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopalapuram Bajanai Koil 2nd Street?

The Gopalapuram Bajanai Koil 2nd Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Peravallur

The guideline value plays a crucial role in the registration process when buying or selling property in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during property transactions.

Additionally, the guideline value helps in establishing a baseline for property transactions, ensuring that properties are registered at a value that reflects the prevailing market conditions as determined by the government. This process helps to maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Gopalapuram Bajanai Koil 2nd Street?

The current guideline value of Gopalapuram Bajanai Koil 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 340 per sq.ft in 2002 to the current value of Rs 3,300 per sq.ft in 2024. Notable changes include an increase of 329% from 2007 to 2012 and a 10% increase from 2023 to 2024.

What is the land classification for this street?

The land classification for Gopalapuram Bajanai Koil 2nd Street is Commercial Special Type - II. This classification can influence the types of developments permitted in the area.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Gopalapuram Bajanai Koil 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.