Guideline Value for Gopinathan 2nd Cross Street

Gopinathan 2nd Cross Street guideline value

The current guideline value of Gopinathan 2nd Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Gopinathan 2nd Cross Street has changed

The guideline value for Gopinathan 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 168 per sq.ft. This increased to Rs 221 per sq.ft in 2003, marking a change of +32%. The value continued to rise significantly, reaching Rs 1,000 per sq.ft in 2007, an increase of +352%. The 2012 revision saw the value at Rs 3,500 per sq.ft, which was a +250% change from the previous figure. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of -33%. The 2023 revision brought it back up to Rs 3,500 per sq.ft, and the latest revision in 2024 set the value at Rs 3,900 per sq.ft, reflecting an increase of +11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +2221%. There are no other revisions recorded for this street in the register.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value of Gopinathan 2nd Cross Street is above this median.

• Gopinathan 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 5th Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan Street Main: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gopinathan 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopinathan 2nd Cross Street?

The Gopinathan 2nd Cross Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Ullagaram. It is used to determine the stamp duty and registration fees that must be paid when registering a property. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable duties.

When selling property, the guideline value serves as a benchmark for pricing and helps in the assessment of the property’s value for registration purposes. It is essential for both buyers and sellers to understand how the guideline value impacts their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Gopinathan 2nd Cross Street?

The current guideline value of Gopinathan 2nd Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 168 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of +2221% over the years.

What is the land classification for Gopinathan 2nd Cross Street?

Gopinathan 2nd Cross Street falls under the Residential Class I Type - III land classification.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office is responsible for Gopinathan 2nd Cross Street?

The Alandur Sub Registrar Office covers Gopinathan 2nd Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.