Guideline Value for G.K.M. Colony 38th Street Dr. Ambethkar Street

G.K.M. Colony 38th Street Dr. Ambethkar Street guideline value

The current guideline value for G.K.M. Colony 38th Street Dr. Ambethkar Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Konnur village and falls under the Konnur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of G.K.M. Colony 38th Street Dr. Ambethkar Street has changed

The guideline value for G.K.M. Colony 38th Street Dr. Ambethkar Street has seen significant changes over the years. In 2002, the guideline value was Rs 399 per sq.ft. This increased to Rs 433 per sq.ft in 2003, marking a 9% rise. The value then saw a substantial jump to Rs 800 per sq.ft in 2007, an increase of 85%. By 2012, the value was Rs 5,000 per sq.ft, reflecting a 525% rise from 2007. However, it decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The value then increased again to Rs 5,000 per sq.ft in 2023, followed by a further increase to the current rate of Rs 5,500 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1278%. There are no figures for other revisions for this street in the register.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, placing G.K.M. Colony 38th Street Dr. Ambethkar Street above this median.

• G.K.M. Colony 39th Street Kakkanji 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 37th Jambulingam 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 40th Street Akbar Squar 1 to 4 th st: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 35th Street Asath Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in G.K.M. Colony 38th Street Dr. Ambethkar Street

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, totaling 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 details.

Which Sub Registrar Office covers G.K.M. Colony 38th Street Dr. Ambethkar Street?

The G.K.M. Colony 38th Street Dr. Ambethkar Street 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konnur. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, buyers and sellers must consider the guideline value as it affects the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for G.K.M. Colony 38th Street Dr. Ambethkar Street?

The current guideline value for G.K.M. Colony 38th Street Dr. Ambethkar 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 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 this street?

The land classification for G.K.M. Colony 38th Street Dr. Ambethkar 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 38th Street Dr. Ambethkar Street is located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 4,95,000.