Guideline Value for G.K.M. Colony 27th Street

G.K.M. Colony 27th Street guideline value

The current guideline value of G.K.M. Colony 27th Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - I.

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

The guideline value of G.K.M. Colony 27th Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,300 per sq.ft in the 2012 revision, marking a rise of 230%. However, the 2017 revision saw a decrease to Rs 2,211 per sq.ft, a drop of 33%. The value then surged to Rs 3,300 per sq.ft in the 2023 revision, followed by a further increase to Rs 3,600 per sq.ft in the 2024 revision, reflecting a rise of 9%.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 260%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are a total of 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, positioning G.K.M. Colony 27th Street above this median.

• G.K.M. Colony 26th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 28th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 25th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 29th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 24th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 23rd Street: Rs 3,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, leading to a total of Rs 3,24,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The G.K.M. Colony 27th Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peravallur. 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 guideline value helps in assessing the official value of the property, ensuring that the correct duties are levied. This process is essential for maintaining transparency and fairness in property transactions.

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 is Rs 3,600 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 1,000 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2024, with various revisions in between.

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

The land classification for G.K.M. Colony 27th Street is Residential Special Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for property in G.K.M. Colony 27th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 at 7%.