Guideline Value for Gundur Colony Road

Gundur Colony Road guideline value

The current guideline value of Gundur Colony Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Chengalpattu Town village under the Chengleput Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Gundur Colony Road has changed

The guideline value for Gundur Colony Road has undergone several revisions since 2007. The 2007 revision set the value at Rs 375 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 433% rise. However, it saw a decline to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, followed by the current rate of Rs 2,200 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 487%.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 3,025 per sq.ft. The guideline value of Gundur Colony Road is below this median.

• Gundur Colony: Rs 2,200 per sq.ft (2024)
• Gundur Kutta karai: Rs 2,200 per sq.ft (2024)
• Gundur Church Road: Rs 2,200 per sq.ft (2024)
• Gundur Mettu Street: Rs 2,475 per sq.ft (2024)
• Gundur Parameswarapuram: Rs 2,420 per sq.ft (2024)
• Illuputhopu: Rs 3,025 per sq.ft (2024)

Stamp duty and registration fee for property in Gundur Colony Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gundur Colony Road?

The Sub Registrar Office that covers Gundur Colony Road is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration of property transactions in Chengalpattu Town. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees payable at the time of registration, which are essential for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Gundur Colony Road?

The current guideline value of Gundur Colony Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 375 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 487% over the years.

What are the stamp duty and registration fees for properties in Gundur Colony Road?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Gundur Colony Road?

The Chengleput Joint I Sub Registrar Office handles property registrations for Gundur Colony Road, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Gundur Colony Road?

Gundur Colony Road is classified as Residential Class IV Type - I, indicating its use for residential purposes within the local planning framework.