Guideline Value for Gokulam Colony (1st Street)

Gokulam Colony (1st Street) guideline value

The current guideline value for Gokulam Colony (1st Street) is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Gokulam Colony (1st Street) has changed

The guideline value for Gokulam Colony (1st Street) has seen significant revisions over the years. In 2002, the guideline value was Rs 201 per sq.ft, which increased to Rs 228 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 450 per sq.ft in 2007, representing a substantial increase of +97%. By 2017, the guideline value had jumped to Rs 1,675 per sq.ft, reflecting a remarkable increase of +272%. The next revision in 2023 set the value at Rs 2,500 per sq.ft, which was a +49% increase from the previous figure. Finally, the 2024 revision established the current guideline value at Rs 2,750 per sq.ft, which is a +10% change from 2023.

It is important to note that there is no figure available for the year 2012 in the register for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, and Gokulam Colony (1st Street) is above this median.

• Gokulam Colony (2nd Street): Rs 2,750 per sq.ft (2024)
• Gokulam Colony, Pammal: Rs 2,750 per sq.ft (2024)
• Gokulay Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Girisqure, 3rd Street: Rs 1,980 per sq.ft (2024)
• Girisqure, 2nd Street: Rs 1,980 per sq.ft (2024)
• Girisqure, 1st Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam Colony (1st Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gokulam Colony (1st Street)?

The Gokulam Colony (1st Street) is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Gokulam Colony (1st Street)?

The current guideline value for Gokulam Colony (1st Street) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, representing an overall increase of +1268% over this period.

What is the land classification for Gokulam Colony (1st Street)?

The land classification for Gokulam Colony (1st Street) is Commercial Class I Type - II.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for property in Gokulam Colony (1st Street)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft at the current guideline value, the stamp duty would be Rs 1,92,500.