Guideline Value for G.K.M. Colony 3rd Street

G.K.M. Colony 3rd Street guideline value

The current guideline value of G.K.M. Colony 3rd Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of G.K.M. Colony 3rd Street has changed

The guideline value for G.K.M. Colony 3rd Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in 2012, marking a rise of 230%. However, it then decreased to Rs 2,211 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,300 per sq.ft in 2023, and most recently, it has increased to Rs 3,600 per sq.ft in 2024, reflecting a change of 9%.

There are no figures available for G.K.M. Colony 3rd Street for the years 2002 and 2003. 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, with a median value of Rs 3,301 per sq.ft. The guideline value for G.K.M. Colony 3rd Street is above this median.

• G.K.M. Colony 40th 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 41st Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 38th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 37th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 42nd Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in G.K.M. Colony 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, while the registration fee at 2% would be Rs 72,000. Together, these fees would total Rs 3,24,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers G.K.M. Colony 3rd Street?

The Sub Registrar Office that covers G.K.M. Colony 3rd Street is 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 buying or selling property in Peravallur. It serves as a benchmark for determining the minimum price at which property transactions can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

When registering property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is crucial for both parties to be aware of the guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of G.K.M. Colony 3rd Street?

The current guideline value of G.K.M. Colony 3rd 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 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 3rd Street?

G.K.M. Colony 3rd Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property in G.K.M. Colony 3rd Street?

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 property registration for G.K.M. Colony 3rd Street?

The Sembiam Sub Registrar Office handles property registration for G.K.M. Colony 3rd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.