Guideline Value for Gokulam Colony

Gokulam Colony guideline value

The current guideline value of Gokulam Colony is Rs 6,000 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class II Type - III.

How the guideline value of Gokulam Colony has changed

The guideline value for Gokulam Colony has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 800 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a remarkable rise of 588%. However, it then decreased to Rs 3,685 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 5,500 per sq.ft in 2023, before reaching the current figure of Rs 6,000 per sq.ft in 2024, an increase of 9% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 650%. Notably, there are no figures available for Gokulam Colony in the register for the years 2002 and 2003.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value range from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Gokulam Colony's 2024 figure above this median.

• Gnanavadivu Street: Rs 3,300 per sq.ft (2024)
• Gnanaoli Street: Rs 4,900 per sq.ft (2024)
• Gnanamani Street: Rs 4,100 per sq.ft (2024)
• Giri Street: Rs 4,900 per sq.ft (2024)
• Gopalan Street (V.P): Rs 7,100 per sq.ft (2024)
• Gopalan Street (W.M): Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam Colony

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty, charged at 7%, would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total charges Rs 5,40,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gokulam Colony?

The Sub Registrar Office that covers Gokulam Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kodambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted fairly and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Gokulam Colony?

The current guideline value of Gokulam Colony is Rs 6,000 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 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 650% over the years.

What is the range of guideline values in Kodambakkam?

In Kodambakkam, the guideline values range from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft.

What are the stamp duty rates for property in Gokulam Colony?

The stamp duty for property transactions in Gokulam Colony is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Gokulam Colony located?

The Sub Registrar Office for Gokulam Colony is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.