Guideline Value for Gundur Colony

Gundur Colony guideline value

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

How the guideline value of Gundur Colony has changed

The guideline value of Gundur Colony has seen several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft. The 2023 revision set the value at Rs 2,000 per sq.ft, which was then raised to Rs 2,200 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 344% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 represents a 10% increase. Overall, there has been a 389% increase in the guideline value from 2007 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that carry 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 is below this median.

• Gundur Church Road: Rs 2,200 per sq.ft (2024)
• Gundur Colony Road: Rs 2,200 per sq.ft (2024)
• Gundur Kutta karai: 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

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 amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gundur Colony?

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

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

The guideline value is a crucial factor in property transactions in Chengalpattu Town. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives appropriate revenue from property transactions.

When selling property, the guideline value can also influence the sale price, as it reflects the official valuation of the property. Buyers and sellers should be aware of the guideline value to ensure compliance with registration requirements and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Gundur Colony?

The current guideline value of Gundur Colony 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 from Rs 450 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 389% over this period.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would be Rs 1,98,000.

Which office handles property registrations in Gundur Colony?

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

What is the land classification of Gundur Colony?

Gundur Colony is classified as Residential Class IV Type - I, indicating its designation for residential use.