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

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

The current guideline value of G.K.M. Colony 38th 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 38th Street has changed

The guideline value for G.K.M. Colony 38th Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 1,000 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in 2012, marking a rise of 230%. However, the value then decreased to Rs 2,211 per sq.ft in 2017, a drop of 33%. The 2023 revision saw a substantial increase to Rs 3,300 per sq.ft, followed by a further rise to the current value of Rs 3,600 per sq.ft in 2024, reflecting a 9% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 260%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value of G.K.M. Colony 38th Street is above this median.

• G.K.M. Colony 37th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 39th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 3rd 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 40th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 35th Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in G.K.M. Colony 38th 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 cost for these fees to 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 details, you can use the stamp duty and registration fee calculator.

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

The G.K.M. Colony 38th 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 is an essential factor when registering property transactions in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable fees, ensuring that all parties are aware of the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of G.K.M. Colony 38th Street?

The current guideline value of G.K.M. Colony 38th 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 is the land classification for G.K.M. Colony 38th Street?

The land classification for G.K.M. Colony 38th Street is Residential Special Type - I.

What are the stamp duty and registration fees for property 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.

Which office handles registrations for G.K.M. Colony 38th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for G.K.M. Colony 38th Street.