Guideline Value for G.K.M. Colony 30th Street M.G.R Street

G.K.M. Colony 30th Street M.G.R Street guideline value

The current guideline value for G.K.M. Colony 30th Street M.G.R Street 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 30th Street M.G.R Street has changed

The guideline value for G.K.M. Colony 30th Street M.G.R Street has seen several revisions over the years. In 2002, the guideline value was Rs 399 per sq.ft, which increased to Rs 433 per sq.ft in 2003. This marked a 9% increase. By 2007, the value surged to Rs 800 per sq.ft, reflecting an 85% rise. The value then saw a significant jump to Rs 5,000 per sq.ft in 2012, which was a 525% increase. However, it dropped to Rs 3,350 per sq.ft in 2017, resulting in a 33% decrease. The value rose again to Rs 5,000 per sq.ft in 2023, marking a 49% increase, and finally reached Rs 5,500 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1278%.

Guideline values in Konnur

In Konnur village, 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 30th Street M.G.R Street is above this median.

• G.K.M. Colony 31th Street Ma.Po.Sivagnanam. 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 32nd Street Jeevanantham 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 33rd Street Thiru. V.KA Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 27th Street Punitha Sahayamatha Stre: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in G.K.M. Colony 30th Street M.G.R Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. 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 further calculations.

Which Sub Registrar Office covers G.K.M. Colony 30th Street M.G.R Street?

The G.K.M. Colony 30th Street M.G.R Street falls under 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Konnur. It determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with legal requirements during transactions.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that both parties are aware of their financial obligations. This helps maintain transparency in property transactions within the Konnur SRO jurisdiction.

Frequently asked questions

What is the current guideline value for G.K.M. Colony 30th Street M.G.R Street?

The current guideline value for G.K.M. Colony 30th Street M.G.R Street 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 significantly from Rs 399 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1278% over the years.

What is the land classification for G.K.M. Colony 30th Street M.G.R Street?

G.K.M. Colony 30th Street M.G.R Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering G.K.M. Colony 30th Street M.G.R Street is located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000. Fees are based on the higher of the guideline value or the sale price.