Guideline Value for G.K.M. Colony 35th Street Asath Street

G.K.M. Colony 35th Street Asath Street guideline value

The current guideline value for G.K.M. Colony 35th Street Asath Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This property 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 35th Street Asath Street has changed

The guideline value for G.K.M. Colony 35th Street Asath Street has seen significant changes over the years. In the 2002 revision, the value was Rs 401 per sq.ft. This increased to Rs 435 per sq.ft in 2003, marking an 8% rise. The value then jumped to Rs 800 per sq.ft in 2007, a substantial increase of 84%. By 2012, it was Rs 5,000 per sq.ft, reflecting a remarkable 525% increase from 2007. However, the value decreased to Rs 3,350 per sq.ft in 2017, a decline of 33% from the previous revision.

In 2023, the guideline value rose to Rs 5,000 per sq.ft, and in the latest 2024 revision, it is now Rs 5,500 per sq.ft, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1272%.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value in Konnur is Rs 3,800 per sq.ft, placing G.K.M. Colony 35th Street Asath Street above this median.

• G.K.M. Colony 34th Street Vinobaji Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 36th Street Jayprakash Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 37th Jambulingam Street: 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 37th Punitha Anthoniyar Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 32nd Street Jeevanantham Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in G.K.M. Colony 35th Street Asath 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, totaling Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers G.K.M. Colony 35th Street Asath Street?

The G.K.M. Colony 35th Street Asath Street falls under the Konnur Sub Registrar Office. The address is Sub Register Office, Villivakkam Panchayat, 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 is a crucial aspect when it comes to the registration of properties in Konnur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable fees based on the property’s size and location. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value for G.K.M. Colony 35th Street Asath Street?

The current guideline value for G.K.M. Colony 35th Street Asath 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 401 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1272%.

What is the land classification for G.K.M. Colony 35th Street Asath Street?

The land classification for G.K.M. Colony 35th Street Asath Street is 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 35th Street Asath Street is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Konnur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.