Guideline Value for Carpenter Street

Carpenter Street guideline value

The current guideline value of Carpenter Street in Siruvallur village, under the Sembiam SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Carpenter Street has changed

Over the years, the guideline value for Carpenter Street has seen several revisions. The 2002 revision set the value at Rs 357 per sq.ft, which increased to Rs 427 per sq.ft in 2003, marking a 20% rise. The value then surged to Rs 1,000 per sq.ft in 2007, reflecting a significant increase of 134%. Following this, the 2012 revision saw a decrease to Rs 1,800 per sq.ft, a drop of 33%. The value then rose again to Rs 1,206 per sq.ft in 2017, followed by an increase to Rs 1,800 per sq.ft in 2023, before reaching the current value of Rs 1,900 per sq.ft in 2024, which is a 6% increase from the previous year.

In summary, from the 2017 revision to 2023, there was a notable increase of 49%. The overall change from the 2002 revision to the 2024 revision represents a substantial increase of 432%. There are no figures available for revisions in years other than those listed.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft, with the median value being Rs 1,900 per sq.ft. Carpenter Street's 2024 figure aligns with this median.

• Bundhar Garden Main Street: Rs 3,900 per sq.ft (2024)
• Bundhar Garden Cross Street: Rs 3,300 per sq.ft (2024)
• Bundhar Garden 3rd Street: Rs 3,600 per sq.ft (2024)
• Bundhar Garden 2nd Street: Rs 3,600 per sq.ft (2024)
• Bundhar Garden 1st Street: Rs 3,600 per sq.ft (2024)
• Chengalvarayan Lane: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Carpenter Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Carpenter Street?

The Sub Registrar Office that covers Carpenter Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Siruvallur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which ensures compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Carpenter Street?

The current guideline value of Carpenter Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed through various revisions, starting from Rs 357 per sq.ft in 2002 to the current value of Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 432%.

What are the stamp duty and registration fees for properties on Carpenter Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 19,00,000, the total fees would be Rs 1,71,000.

Which office handles property registrations for Carpenter Street?

The Sembiam Sub Registrar Office handles property registrations for Carpenter Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Carpenter Street?

Carpenter Street is classified as Residential Class III Type - I, which indicates its zoning for residential purposes.