Guideline Value for Gopinathan Street Main

Gopinathan Street Main guideline value

The current guideline value of Gopinathan Street Main 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 Street Main has changed

The guideline value for Gopinathan Street Main has seen several revisions over the years. In 2003, the value was Rs 248 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2007. The value then rose dramatically to Rs 3,500 per sq.ft in 2012, before dropping to Rs 2,345 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023, followed by the current value of Rs 3,900 per sq.ft in 2024.

Between the revisions, notable changes include a 303% increase from 2003 to 2007, followed by a 250% rise from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023 and increased by 11% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 1,473%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Gopinathan Street Main's 2024 figure above that median.

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

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, bringing the total cost for these fees to 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gopinathan Street Main?

The Sub Registrar Office that covers Gopinathan Street Main is 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 during the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

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 as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Gopinathan Street Main?

The current guideline value of Gopinathan Street Main 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 248 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,473% over this period.

What are the stamp duty and registration fees for properties on Gopinathan Street Main?

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 Street Main?

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

What is the land classification of Gopinathan Street Main?

Gopinathan Street Main is classified as Residential Class I Type - III, indicating its designation for residential use within the locality.