Guideline Value for G.K.M. Colony, Chennai 82 & Streets

G.K.M. Colony, Chennai 82 & Streets guideline value

The current guideline value for G.K.M. Colony, Chennai 82 & Streets is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under Ayanavaram village and is classified as Residential Class III Type - I, governed by the AnnaNagar SRO.

How the guideline value of G.K.M. Colony, Chennai 82 & Streets has changed

The guideline value has seen several revisions over the years. In 2007, the value was set at Rs 1,200 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 reflects an 8% rise. When looking at the overall change from 2007 to 2024, the guideline value has increased by 125%.

Guideline values in Ayanavaram

Ayanavaram comprises 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing G.K.M. Colony, Chennai 82 & Streets below this median.

• Gnanammal Garden: Rs 4,400 per sq.ft (2024)
• Gel. Coacher Street, Chennai 82: Rs 2,700 per sq.ft (2024)
• G Block 9th Street Extension: Rs 20,000 per sq.ft (2024)
• G Block 1st Avenue: Rs 20,000 per sq.ft (2024)
• Gopal Pillai Nagar: Rs 4,400 per sq.ft (2024)
• Govindaraj Street, Chennai 82: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in G.K.M. Colony, Chennai 82 & Streets

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. 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 details.

Which Sub Registrar Office covers G.K.M. Colony, Chennai 82 & Streets?

The Sub Registrar Office that covers G.K.M. Colony, Chennai 82 & Streets is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ayanavaram. It serves as a benchmark 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 used to calculate the applicable duties, ensuring that both buyers and sellers adhere to the regulatory framework set by the Registration Department. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value for G.K.M. Colony, Chennai 82 & Streets?

The current guideline value for G.K.M. Colony, Chennai 82 & Streets is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 125% over the years.

What is the stamp duty on property in G.K.M. Colony, Chennai 82 & Streets?

The stamp duty for property in G.K.M. Colony, Chennai 82 & Streets is charged at 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for transactions in G.K.M. Colony, Chennai 82 & Streets?

The AnnaNagar Sub Registrar Office is responsible for transactions in G.K.M. Colony, Chennai 82 & Streets, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for G.K.M. Colony, Chennai 82 & Streets?

G.K.M. Colony, Chennai 82 & Streets is classified as Residential Class III Type - I, which influences the guideline value and property regulations in the area.