Guideline Value for Gothandaramapillai Garden

Gothandaramapillai Garden guideline value

The current guideline value of Gothandaramapillai Garden is Rs 4,100 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Gothandaramapillai Garden has changed

The guideline value for Gothandaramapillai Garden has undergone several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 369%. However, this value decreased to Rs 2,512 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 3,750 per sq.ft in 2023, followed by another increase to Rs 4,100 per sq.ft in 2024, which is a 9% rise.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 413%. There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which means that the value for Gothandaramapillai Garden is below this median.

• Gothandan Street: Rs 4,100 per sq.ft (2024)
• Gopal Street(M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Gopal Street (JPT): Rs 5,500 per sq.ft (2024)
• Govindan Street Block 62: Rs 7,700 per sq.ft (2024)
• Gopalan Street (W.M): Rs 6,000 per sq.ft (2024)
• Gopalan Street (V.P): Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gothandaramapillai Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total fees to Rs 3,69,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gothandaramapillai Garden?

The Gothandaramapillai Garden area is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kodambakkam. 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 stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Gothandaramapillai Garden?

The current guideline value of Gothandaramapillai Garden is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 413% over the years.

What is the land classification for Gothandaramapillai Garden?

Gothandaramapillai Garden is classified as Residential Class IV Type - I, indicating its designation for residential use.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Gothandaramapillai Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 41,00,000, the stamp duty at 7% would be Rs 2,87,000.