Guideline Value for GURUDEV COLONY

Gurudev Colony guideline value

The current guideline value of Gurudev Colony in Perumbakkam village is Rs 2,725 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Special Type - I.

How the guideline value of Gurudev Colony has changed

The guideline value for Gurudev Colony has undergone several revisions over the years. The earliest revision available is from 2012, where the guideline value was set at Rs 2,500 per sq.ft. This figure remained the same in the subsequent revision in 2017, but it then decreased to Rs 1,675 per sq.ft. In 2023, the value increased significantly to Rs 2,500 per sq.ft, followed by the latest revision in 2024, which raised the value to Rs 2,725 per sq.ft.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the guideline value increased by 49%. The most recent change from 2023 to 2024 reflects a 9% increase. Overall, comparing the figures from 2012 to 2024, there has been a net increase of 9% in the guideline value.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,725 per sq.ft, which is the same as the current value for Gurudev Colony.

• Gurudev Colony "glo Dugar": Rs 3,300 per sq.ft (2024)
• Golden Castle: Rs 2,725 per sq.ft (2024)
• Gokul Nagar 40 Feet Road: Rs 3,300 per sq.ft (2024)
• Gokul Nagar 1st to 5th Cross street: Rs 3,300 per sq.ft (2024)
• Gokul Nagar: Rs 3,300 per sq.ft (2024)
• Indira Nagar Anna Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Gurudev Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value would be Rs 27,25,000. The stamp duty at 7% would amount to Rs 1,90,750, and the registration fee at 2% would be Rs 54,500. Therefore, the total cost for stamp duty and registration fees would be Rs 2,45,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gurudev Colony?

The Gurudev Colony area is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable fees. 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 Gurudev Colony?

The current guideline value of Gurudev Colony is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,725 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Gurudev Colony?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 27,25,000, the total fees would be Rs 2,45,250.

Which Sub Registrar Office covers Gurudev Colony?

The Selaiyur Sub Registrar Office covers Gurudev Colony, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification of Gurudev Colony?

Gurudev Colony is classified as Residential Special Type - I, which indicates the specific zoning and usage regulations for the area.