Guideline Value

Corporate

Guideline Value for G.K.M. Colony 41st Street

₹3600/sq.ft.

The guideline value for G.k.m. Colony 41st Street in Peravallur village (Sembiam SRO, Chennai zone) is Rs 3600 per sq.ft, effective 1 July 2024. It was Rs 3300 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Peravallur

Village

Sembiam

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹3600 /sq.ft.
From 1-4-2023 ₹3300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2211 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3300 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1000 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

5, Papermills Road, Sembiam, Chennai - 600011.
044-26702002
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on G.k.m. Colony 41st Street

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G.K.M. Colony 41st Street guideline value

The current guideline value of G.K.M. Colony 41st 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 41st Street has changed

The guideline value for G.K.M. Colony 41st Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in 2012. However, this figure decreased to Rs 2,211 per sq.ft in 2017. The subsequent revision in 2023 saw the value rise to Rs 3,300 per sq.ft, and the latest revision in 2024 has set the value at Rs 3,600 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2012, there was a remarkable increase of 230%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023. The current value of Rs 3,600 per sq.ft reflects a 9% increase from the previous year's figure of Rs 3,300 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 260%.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, making G.K.M. Colony 41st Street's 2024 figure above this median.

Stamp duty and registration fee for property in G.K.M. Colony 41st 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 to Rs 3,24,000. 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 accurate calculations based on the specific property details.

Which Sub Registrar Office covers G.K.M. Colony 41st Street?

The G.K.M. Colony 41st Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to ensure that the transaction is in accordance with the current regulations. If the sale price is lower than the guideline value, the higher amount will be used to calculate stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of G.K.M. Colony 41st Street?

The current guideline value of G.K.M. Colony 41st 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, with various fluctuations in between. For example, it decreased to Rs 2,211 per sq.ft in 2017 before rising again in subsequent years.

What are the stamp duty and registration fees for property in G.K.M. Colony 41st Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is 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 registrations in G.K.M. Colony 41st Street?

The Sembiam Sub Registrar Office handles property registrations for G.K.M. Colony 41st Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration, ensuring that transactions reflect fair values. It helps in calculating the stamp duty and registration fees based on the higher of the guideline value or the sale price.