Guideline Value for G.K.M. Colony 44th Street

G.K.M. Colony 44th Street guideline value

The current guideline value for G.K.M. Colony 44th 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 44th Street has changed

The guideline value for G.K.M. Colony 44th Street has undergone several revisions over the years. In 2002, the value was Rs 399 per sq.ft, which increased to Rs 433 per sq.ft in 2003. The value saw a significant rise to Rs 800 per sq.ft in 2007, followed by an increase to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was +9%. The value surged by +85% from 2003 to 2007. A substantial rise of +525% was observed from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. Following this, there was a +49% increase from 2017 to 2023, and the most recent revision from 2023 to 2024 saw a +10% increase. Overall, from 2002 to 2024, the guideline value has increased by +1278%.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with guideline values in 2024 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 44th Street's current value above this median.

• G.K.M.Colony 43th Street Thillaiyadi Valliammai Street: Rs 6,000 per sq.ft (2024)
• G.K.M. Colony 42nd Street Jagageevan Ram Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 41st Street Sir. C.V. Raman 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 44th 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, bringing the total fees together to 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 precise calculations.

Which Sub Registrar Office covers G.K.M. Colony 44th Street?

The G.K.M. Colony 44th Street falls under the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Konnur. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of G.K.M. Colony 44th Street?

The current guideline value of G.K.M. Colony 44th 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 rates for properties in Konnur?

The stamp duty rate for properties in Konnur is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for G.K.M. Colony 44th Street?

The Sub Registrar Office for G.K.M. Colony 44th Street is located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the median guideline value for streets in Konnur?

The median guideline value for streets in Konnur is Rs 3,800 per sq.ft, with G.K.M. Colony 44th Street's current value being above this median.