Guideline Value for G.K.M. Colony 27th Street Punitha Sahayamatha Stre

G.K.M. Colony 27th Street Punitha Sahayamatha Stre guideline value

The current guideline value of G.K.M. Colony 27th Street Punitha Sahayamatha Stre is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class I Type - I.

How the guideline value of G.K.M. Colony 27th Street Punitha Sahayamatha Stre has changed

The guideline value for G.K.M. Colony 27th Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and most recently increased to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The changes between revisions are significant, particularly the jump from Rs 3,350 per sq.ft in 2017 to Rs 5,000 per sq.ft in 2023, which represents a 49% increase.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for G.K.M. Colony 27th Street is above this median.

• G.K.M. Colony 26th Street Kennadi Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 28th Street Anantha Balavinayagar St: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 25th Street Sathyavani Muthu Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 29th Street Sivaji Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 30th Street M.G.R Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 31th Street Ma.Po.Sivagnanam. Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in G.K.M. Colony 27th Street Punitha Sahayamatha Stre

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers G.K.M. Colony 27th Street Punitha Sahayamatha Stre?

The G.K.M. Colony 27th Street Punitha Sahayamatha Stre is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Konnur, as it determines the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value serves as a benchmark for the transaction, ensuring that the property is valued appropriately for taxation purposes. It is essential for both buyers and sellers to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of G.K.M. Colony 27th Street?

The current guideline value of G.K.M. Colony 27th Street Punitha Sahayamatha Stre is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers this area?

The Konnur Sub Registrar Office covers G.K.M. Colony 27th Street, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification of G.K.M. Colony 27th Street?

The land classification for G.K.M. Colony 27th Street Punitha Sahayamatha Stre is Residential Class I Type - I.