Guideline Value for Francis Street

Francis Street guideline value

The current guideline value of Francis 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 Francis Street has changed

The guideline value for Francis Street has undergone several revisions over the years. In 2002, the value was Rs 427 per sq.ft, which increased to Rs 469 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 1,000 per sq.ft in 2007, representing a 113% growth. Following that, the value rose to Rs 1,800 per sq.ft in 2012, reflecting an 80% increase. However, it decreased to Rs 1,206 per sq.ft in 2017, showing a decline of 33% before climbing back to Rs 1,800 per sq.ft in 2023, which was a 49% increase. The latest revision in 2024 sets the value at Rs 1,900 per sq.ft, a 6% increase from the previous year.

There are no figures available for revisions in years not mentioned. The overall change from 2002 to 2024 indicates a substantial increase of 345% in the guideline value.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median value is Rs 1,900 per sq.ft, which is equal to the current value for Francis Street.

• FOXEN Street APPARTMENTS: Rs 2,800 per sq.ft (2024)
• FOXEN 2nd Street: Rs 2,800 per sq.ft (2024)
• FOXEN 2nd Lane: Rs 2,200 per sq.ft (2024)
• FOXEN 1st Street: Rs 2,800 per sq.ft (2024)
• FOXEN 1st Lane: Rs 2,200 per sq.ft (2024)
• Govardhan Doss Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Francis 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 fees 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Francis Street?

The Sub Registrar Office that covers Francis 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 is a crucial factor in the registration process when buying or selling property in Siruvallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Francis Street?

The current guideline value of Francis 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 from Rs 427 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, showing an overall increase of 345%.

What is the land classification for Francis Street?

Francis Street falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for property in Francis Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,00,000, with a stamp duty of Rs 1,33,000 and a registration fee of Rs 38,000, totaling Rs 1,71,000.

Which office handles the registration for Francis Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles the registration for Francis Street.