Guideline Value for Gokulam Colony, Pammal

Gokulam Colony, Pammal guideline value

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

How the guideline value of Gokulam Colony, Pammal has changed

The guideline value for Gokulam Colony, Pammal has undergone several revisions over the years. The oldest available figure is from the 2017 revision, which was Rs 1,675 per sq.ft. This was followed by a significant increase to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Gokulam Colony, Pammal. The absence of figures in these years indicates that the guideline value has not been updated for this street during those periods.

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, positioning Gokulam Colony's 2024 figure above this median.

• Gokulam Colony (2nd Street): Rs 2,750 per sq.ft (2024)
• Gokulam Colony (1st Street): 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, Pammal

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gokulam Colony, Pammal?

The Gokulam Colony, Pammal is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value plays a crucial role in the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Gokulam Colony, Pammal?

The current guideline value of Gokulam Colony, Pammal 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 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification for Gokulam Colony, Pammal?

Gokulam Colony, Pammal is classified as Commercial Class I Type - II.

Which Sub Registrar Office covers Gokulam Colony, Pammal?

The Pammal Sub Registrar Office covers Gokulam Colony, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Gokulam Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.