Guideline Value for Gopinathan Cross Street

Gopinathan Cross Street guideline value

The current guideline value of Gopinathan 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, classified as Residential Class I Type - III.

How the guideline value of Gopinathan Cross Street has changed

The guideline value for Gopinathan Cross Street has seen significant changes over the years. In the 2002 revision, the value was Rs 196 per sq.ft, which increased to Rs 221 per sq.ft in 2003. Following this, the value rose dramatically to Rs 1,000 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, in 2017, it dropped to Rs 2,345 per sq.ft, before climbing to Rs 3,500 per sq.ft in 2023, and finally reaching Rs 3,900 per sq.ft in 2024.

Between these revisions, there have been notable changes. From 2002 to 2024, the overall increase is 1890%. The change from 2017 to 2023 was +49%, while the 2012 to 2017 period saw a decrease of -33%. The 2007 to 2012 period experienced a substantial increase of +250%, and from 2003 to 2007, the increase was +352%. The change from 2002 to 2003 was +13%.

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 Cross Street's 2024 value of Rs 3,900 per sq.ft is above this median.

• Gopinathan 5th Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan Street Main: Rs 3,900 per sq.ft (2024)
• Gopinathan 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 3rd Cross Street: 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 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, resulting in a total of 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopinathan Cross Street?

The Gopinathan Cross Street falls under 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 is a crucial factor when registering property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Gopinathan Cross Street?

The current guideline value of Gopinathan 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 196 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Ullagaram?

The median guideline value in Ullagaram is Rs 2,800 per sq.ft, with Gopinathan Cross Street's value above this median.

What are the stamp duty and registration fees for properties in Gopinathan Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000, leading to a stamp duty of Rs 2,73,000 and a registration fee of Rs 78,000, totaling Rs 3,51,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.