Guideline Value for SRI GOPALAKRISHNA NAGAR PHASE -I

Sri Gopalakrishna Nagar Phase -I guideline value

The current guideline value for Sri Gopalakrishna Nagar Phase -I is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Kattankollatur village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sri Gopalakrishna Nagar Phase -I has changed

Over the years, the guideline value for Sri Gopalakrishna Nagar Phase -I has seen significant changes. The 2017 revision set the guideline value at Rs 603 per sq.ft. Following this, the 2023 revision increased it to Rs 900 per sq.ft, marking a 49% rise. The most recent 2024 revision has further increased the value to Rs 990 per sq.ft, which is a 10% increase from the previous year.

In total, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kattankollatur

Kattankollatur has a total of 453 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value for the village is Rs 1,100 per sq.ft, placing the 2024 figure for Sri Gopalakrishna Nagar Phase -I below this median.

• Sri Gopalakrishna Nagar Phase - III: Rs 1,980 per sq.ft (2024)
• Sri Gopala Krishnan Nagar: Rs 880 per sq.ft (2024)
• Sri Ganapathy Garden Permanur (Ward -15): Rs 440 per sq.ft (2024)
• Sri Krishna 4th Street Korukanthangal (Ward -18): Rs 660 per sq.ft (2024)
• Sri Chandra Surya Gardens (Ward -15): Rs 990 per sq.ft (2024)
• Sri Bhuvaneswari Avenue Peramanur (Ward -15): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Gopalakrishna Nagar Phase -I

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty, charged at 7%, would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800. Together, these fees would total Rs 89,100. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Gopalakrishna Nagar Phase -I?

The Sub Registrar Office covering Sri Gopalakrishna Nagar Phase -I is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kattankollatur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the seller and buyer must consider the guideline value to ensure compliance with local regulations. This value helps in assessing the financial obligations associated with the property transfer, ensuring that all legal requirements are met.

Frequently asked questions

What is the current guideline value for Sri Gopalakrishna Nagar Phase -I?

The current guideline value for Sri Gopalakrishna Nagar Phase -I is Rs 990 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 603 per sq.ft in 2017 to Rs 990 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the registration fees for property transactions in this area?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles the registration of properties in Sri Gopalakrishna Nagar Phase -I?

The Chengleput Joint II Sub Registrar Office is responsible for the registration of properties in Sri Gopalakrishna Nagar Phase -I.

What is the median guideline value for streets in Kattankollatur?

The median guideline value for the streets in Kattankollatur is Rs 1,100 per sq.ft, which is higher than the current value for Sri Gopalakrishna Nagar Phase -I.