Guideline Value for GOKULAM COLONY (WARD-20)

Gokulam Colony (Ward-20) guideline value

The current guideline value of Gokulam Colony (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Konathi village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Gokulam Colony (Ward-20) has changed

Over the years, the guideline value for Gokulam Colony (Ward-20) has seen several revisions. In 2012, the value was Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in 2017. Following that, the value increased significantly to Rs 800 per sq.ft in 2023, and then to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, placing Gokulam Colony (Ward-20) above this median with its current guideline value of Rs 880 per sq.ft.

• Gopula Krishna Nagar (Tai): Rs 880 per sq.ft (2024)
• G.S.T. Road Chamundeeswari (Ward-21): Rs 2,200 per sq.ft (2024)
• Gst Road Potheri (Ward-20): Rs 2,200 per sq.ft (2024)
• Gandhi Street (Ward-21): Rs 660 per sq.ft (2024)
• G.S.T Road Thailavaram (Ward-21): Rs 2,200 per sq.ft (2024)
• G.S.T.Road (Ward -1): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam Colony (Ward-20)

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gokulam Colony (Ward-20)?

The Sub Registrar Office that covers Gokulam Colony (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konathi. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value is used to determine the minimum price at which the property can be registered. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gokulam Colony (Ward-20)?

The current guideline value of Gokulam Colony (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Gokulam Colony (Ward-20)?

Gokulam Colony (Ward-20) is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Gokulam Colony (Ward-20)?

The Sub Registrar Office is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Gokulam Colony (Ward-20)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 8,80,000, the stamp duty would be Rs 61,600 at 7%.