Guideline Value for T.S. GOPAL NAGAR -II

T.S. Gopal Nagar -II guideline value

The current guideline value for T.S. Gopal Nagar -II is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of T.S. Gopal Nagar -II has changed

The guideline value for T.S. Gopal Nagar -II has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012, marking a rise of 180%. However, in 2017, the value dropped to Rs 938 per sq.ft, a decrease of 33%. The value then increased to Rs 1,400 per sq.ft in 2023, followed by a further rise to Rs 1,500 per sq.ft in 2024, reflecting a 7% increase.

From 2017 to 2023, the value saw a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 200%. There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for T.S. Gopal Nagar -II is below this median.

• T.S. Gopal Nagar-1: Rs 3,300 per sq.ft (2024)
• T.S.R.Nagar: Rs 3,700 per sq.ft (2024)
• T.V.K. Street: Rs 3,300 per sq.ft (2024)
• T.K.S.Nagar: Rs 1,500 per sq.ft (2024)
• T.K.B.Nagar: Rs 1,900 per sq.ft (2024)
• Thuppuravu Paniyalar Kudiyruppu(Sathiyamoorthi Nagar): Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in T.S. Gopal Nagar -II

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. 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 details.

Which Sub Registrar Office covers T.S. Gopal Nagar -II?

The Sub Registrar Office that covers T.S. Gopal Nagar -II is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Thiruvottiyur, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. The registration process relies heavily on this value to ensure compliance with local regulations and to facilitate a smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value for T.S. Gopal Nagar -II?

The current guideline value for T.S. Gopal Nagar -II is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 200% over the years.

What is the median guideline value in Thiruvottiyur?

The median guideline value for streets in Thiruvottiyur is Rs 3,300 per sq.ft, which is higher than the guideline value for T.S. Gopal Nagar -II.

What are the stamp duty and registration fees for properties in T.S. Gopal Nagar -II?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 15,00,000, the total fees would amount to Rs 1,35,000.

Where is the Sub Registrar Office for T.S. Gopal Nagar -II located?

The Sub Registrar Office for T.S. Gopal Nagar -II is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.