Guideline Value for Gokulam Colony, Ranganathan Street

Gokulam Colony, Ranganathan Street guideline value

The current guideline value of Gokulam Colony, Ranganathan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Gokulam Colony, Ranganathan Street has changed

The guideline value for Gokulam Colony, Ranganathan Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the 2023 revision increased the value to Rs 4,000 per sq.ft, and the most recent 2024 revision has further increased it to Rs 4,400 per sq.ft, reflecting a 10% rise from the previous year.

Looking at the overall changes, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is the same as the current value for Gokulam Colony, Ranganathan Street.

• Gokulam Colony 3rd Street: Rs 3,850 per sq.ft (2024)
• Gokulam Colony 2nd Street: Rs 3,850 per sq.ft (2024)
• Gokulam Colony 1st Street: Rs 3,850 per sq.ft (2024)
• Gokulam colony: Rs 3,850 per sq.ft (2024)
• Gokulam 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Gokulam 2nd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam Colony, Ranganathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Gokulam Colony, Ranganathan Street?

The Gokulam Colony, Ranganathan Street falls under the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Gokulam Colony, Ranganathan Street?

The current guideline value for Gokulam Colony, Ranganathan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, which is a 10% increase. It was Rs 2,680 per sq.ft in 2017 and Rs 4,000 per sq.ft in 2012.

What is the land classification for Gokulam Colony, Ranganathan Street?

The land classification for Gokulam Colony, Ranganathan Street is Residential Class II Type - II.

Where can I find the registration office for Gokulam Colony?

The registration office for Gokulam Colony is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Gokulam Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.