Guideline Value for Gopinathan 5th Cross Street

Gopinathan 5th Cross Street guideline value

The current guideline value of Gopinathan 5th 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 is classified as Residential Class I Type - III.

How the guideline value of Gopinathan 5th Cross Street has changed

Over the years, the guideline value of Gopinathan 5th Cross Street has seen significant changes. The earliest recorded figure was Rs 168 per sq.ft in 2002, which increased to Rs 221 per sq.ft in 2003, marking a rise of 32%. Following this, the value surged to Rs 1,000 per sq.ft in 2007, reflecting a substantial increase of 352%. In 2012, the guideline value was Rs 3,500 per sq.ft, showing a notable increase of 250% from the previous revision.

In 2017, the value dropped to Rs 2,345 per sq.ft, indicating a decrease of 33%. The 2023 revision recorded a value of Rs 3,500 per sq.ft, which then increased to the current figure of Rs 3,900 per sq.ft in 2024, representing an 11% rise. Overall, from 2002 to 2024, the guideline value has increased by 2221%.

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. Gopinathan 5th Cross Street's 2024 figure of Rs 3,900 per sq.ft is above this median.

• Gopinathan 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan Street Main: Rs 3,900 per sq.ft (2024)
• Gopinathan 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 1st Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gopinathan 5th 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 amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gopinathan 5th Cross Street?

The Gopinathan 5th Cross Street falls under the jurisdiction of 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gopinathan 5th Cross Street?

The current guideline value of Gopinathan 5th 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 this period.

What is the land classification for Gopinathan 5th Cross Street?

Gopinathan 5th Cross Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the registration office for Gopinathan 5th Cross Street?

The registration office for Gopinathan 5th Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Ullagaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 at a rate of 7%.