Guideline Value for Gouri Colony

Gouri Colony guideline value

The current guideline value of Gouri Colony, located in Ullagaram village under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Gouri Colony has changed

The guideline value of Gouri Colony has seen significant changes over the years. In 2002, the guideline value was Rs 501 per sq.ft, which increased to Rs 561 per sq.ft in 2003. Following this, the value rose to Rs 1,300 per sq.ft in 2007, and then further increased to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017, before rising again to Rs 3,500 per sq.ft in 2023, and finally reaching Rs 3,900 per sq.ft in 2024.

Notably, the changes between revisions show a substantial increase of 678% from 2002 to 2024. The most significant jumps occurred between 2007 and 2012 (+169%) and from 2017 to 2023 (+49%). There are no figures available in the register for the years not mentioned.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. Gouri Colony's current guideline value of Rs 3,900 per sq.ft is above this median.

• Gopinathan Street Main: Rs 3,900 per sq.ft (2024)
• Gopinathan Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 5th Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 2nd Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gouri Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, resulting in a total of Rs 3,51,000. 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 Gouri Colony?

The Sub Registrar Office covering Gouri Colony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Ullagaram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Ensuring that the property is registered at the guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Gouri Colony?

The current guideline value of Gouri Colony is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 501 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 678%.

What is the land classification of Gouri Colony?

Gouri Colony falls under the Residential Class I Type - III land classification.

Where can I find the registration office for Gouri Colony?

The registration office for Gouri Colony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Gouri Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be calculated at 7% of this amount.