Guideline Value for G.K.M. Colony 34th Street

G.K.M. Colony 34th Street guideline value

The current guideline value of G.K.M. Colony 34th 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 34th Street has changed

The guideline value for G.K.M. Colony 34th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,000 per sq.ft. This increased to Rs 3,300 per sq.ft in 2012, marking a significant rise of 230%. However, the value then dropped to Rs 2,211 per sq.ft in 2017, reflecting a decrease of 33%. The subsequent revision in 2023 saw a substantial increase to Rs 3,300 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 3,600 per sq.ft, an increase of 9% from the previous year.

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

Guideline values in Peravallur

In Peravallur, there are 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, placing G.K.M. Colony 34th Street's 2024 figure above that median.

• G.K.M. Colony 33rd Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 35th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 32nd Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 36th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 31st Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 30th Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in G.K.M. Colony 34th Street

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

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers G.K.M. Colony 34th Street?

The G.K.M. Colony 34th Street is covered by the Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Peravallur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures transparency and adherence to legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of G.K.M. Colony 34th Street?

The current guideline value of G.K.M. Colony 34th 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, reflecting an overall increase of 260% over the years.

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

For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 and the registration fee would be Rs 72,000, totaling Rs 3,24,000.

Where is the Sembiam Sub Registrar Office located?

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

What is the median guideline value in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft, with G.K.M. Colony 34th Street's value being above this median.