Guideline Value for Gokulam Colony

Gokulam Colony guideline value

The current guideline value of Gokulam Colony, located in Karanaipuducheri village under the Gooduvancheri SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Gokulam Colony has changed

The guideline value for Gokulam Colony has seen several revisions over the years. In 2007, the value was Rs 230 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it dropped to Rs 469 per sq.ft in 2017, before stabilizing at Rs 700 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The increase from 2007 to 2012 was substantial at 204%. Overall, from 2007 to 2024, the guideline value has increased by 204%.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO with a guideline value for 2024 ranging from Rs 400 to Rs 2,239 per sq.ft. The median value for these streets is Rs 802 per sq.ft, making the guideline value of Gokulam Colony below this median.

• Golden Avenue: Rs 800 per sq.ft (2024)
• Gangai Amman Kovil Theru: Rs 1,000 per sq.ft (2024)
• Harsh Nagar: Rs 701 per sq.ft (2024)
• Hindu Avenue: Rs 701 per sq.ft (2024)
• Hindu Avenue Extension -6: Rs 701 per sq.ft (2024)
• Hindu Avenue Extension I & II: Rs 701 per sq.ft (2024)

Stamp duty and registration fee for property in Gokulam Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Gokulam Colony?

The Gokulam Colony is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, 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 Karanaipuducheri

The guideline value plays a crucial role during the registration of property transactions in Karanaipuducheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that all transactions are recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures transparency in property transactions and helps in maintaining accurate records for taxation purposes.

Frequently asked questions

What is the current guideline value of Gokulam Colony?

The current guideline value of Gokulam Colony is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 230 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and has remained at Rs 700 per sq.ft in the 2023 and 2024 revisions.

What is the median guideline value in Karanaipuducheri?

The median guideline value in Karanaipuducheri is Rs 802 per sq.ft for the year 2024, with Gokulam Colony's value being below this median.

What are the stamp duty and registration fees for Gokulam Colony?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000, and the registration fee would be Rs 14,000, totaling Rs 63,000.

Where is the Sub Registrar Office for Gokulam Colony located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.