Guideline Value for G.K.M. Colony 42nd Street Jagageevan Ram Street

G.K.M. Colony 42nd Street Jagageevan Ram Street guideline value

The current guideline value of G.K.M. Colony 42nd Street Jagageevan Ram Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street 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 42nd Street Jagageevan Ram Street has changed

The guideline value for G.K.M. Colony 42nd Street Jagageevan Ram Street has seen significant changes over the years. In 2002, the guideline value was Rs 399 per sq.ft. It increased to Rs 433 per sq.ft in 2003, marking a rise of 9%. The value then jumped to Rs 800 per sq.ft in 2007, reflecting an increase of 85%. Following this, the value surged to Rs 5,000 per sq.ft in 2012, which was a remarkable 525% increase. However, from 2012 to 2017, there was a decrease to Rs 3,350 per sq.ft, a drop of 33%. The value then rose significantly to Rs 5,000 per sq.ft in 2023, and most recently, it has increased to Rs 5,500 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1278%. The revisions from the years 2017, 2023, and 2024 have specific figures recorded, while the register has no figures for other years regarding this street.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for G.K.M. Colony 42nd Street Jagageevan Ram Street is above this median.

• G.K.M. Colony 41st Street Sir. C.V. Raman Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 43th Street Thillaiyadi Valliammai Street: Rs 6,000 per sq.ft (2024)
• G.K.M. Colony 44th 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 39th Street Kakkanji Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 38th Street Dr. Ambethkar Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in G.K.M. Colony 42nd Street Jagageevan Ram 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 be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. Duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers G.K.M. Colony 42nd Street Jagageevan Ram Street?

The G.K.M. Colony 42nd Street Jagageevan Ram 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 details.

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

The guideline value is essential during the registration process of property transactions in Konnur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value affects the stamp duty and registration fees, which are calculated based on this value. It is crucial for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of G.K.M. Colony 42nd Street Jagageevan Ram Street?

The current guideline value of G.K.M. Colony 42nd Street Jagageevan Ram 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 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 are the stamp duty and registration fees for property in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 55,00,000, the total charges would be Rs 4,95,000.

Which office handles registrations for G.K.M. Colony 42nd Street Jagageevan Ram Street?

The Konnur Sub Registrar Office handles registrations for G.K.M. Colony 42nd Street Jagageevan Ram Street, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

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

The guideline value is crucial as it sets the minimum price for property registration and determines the stamp duty and registration fees. It ensures that transactions are recorded accurately and complies with local regulations.