Guideline Value for G.K.M. Colony 8th Street

G.K.M. Colony 8th Street guideline value

The current guideline value of G.K.M. Colony 8th Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of G.K.M. Colony 8th Street has changed

The guideline value for G.K.M. Colony 8th Street has seen several revisions over the years. The earliest recorded value in 2007 was Rs 1,000 per sq.ft. This increased significantly to Rs 3,300 per sq.ft in 2012, reflecting a rise of 230%. However, the value decreased to Rs 2,211 per sq.ft in 2017, representing a decline of 33%. The subsequent revision in 2023 brought the value up to Rs 3,300 per sq.ft, a substantial increase of 49%. The current guideline value of Rs 3,600 per sq.ft, effective from 1 July 2024, marks a 9% increase from the 2023 figure.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to the current 2024 value, there has been a significant increase of 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. The median value for these streets is Rs 3,301 per sq.ft, placing G.K.M. Colony 8th Street's 2024 figure above that median.

• G.K.M. Colony 7th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 9th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 6th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 5th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 4th Street: Rs 3,600 per sq.ft (2024)
• G.K.M. Colony 43rd Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in G.K.M. Colony 8th 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, making the total cost for these fees Rs 3,24,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers G.K.M. Colony 8th Street?

The G.K.M. Colony 8th 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 plays a crucial role 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 the state collects appropriate stamp duty and registration fees based on this value.

Frequently asked questions

What is the current guideline value of G.K.M. Colony 8th Street?

The current guideline value of G.K.M. Colony 8th 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 are the stamp duty and registration fees for properties in G.K.M. Colony 8th 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 registrations for G.K.M. Colony 8th Street?

The Sembiam Sub Registrar Office handles registrations for G.K.M. Colony 8th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for G.K.M. Colony 8th Street?

The land classification for G.K.M. Colony 8th Street is Residential Special Type - I.