Guideline Value for Hightension Line Road

Hightension Line Road guideline value

The current guideline value for Hightension Line Road is Rs 3,301 per sq.ft, effective from 1 July 2024. This road is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Hightension Line Road has changed

The guideline value for Hightension Line Road has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 431 per sq.ft. This increased to Rs 800 per sq.ft in 2007, then saw a significant rise to Rs 3,000 per sq.ft in 2012. However, the value decreased to Rs 2,010 per sq.ft in 2017 before climbing to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 3,301 per sq.ft.

Between these revisions, there were notable changes. From 2003 to 2007, the value increased by 86%. The 2007 to 2012 period saw a decrease of 33%. The value surged by 49% from 2017 to 2023, and the most recent increase from 2023 to 2024 was 10%. Overall, from 2003 to 2024, the guideline value has increased by 666%. The register has no figure for the year 2002 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the current guideline value for Hightension Line Road.

• Haridoss 2nd Street: Rs 2,700 per sq.ft (2024)
• Haridoss 1st Street: Rs 2,700 per sq.ft (2024)
• Guruswamy Street (George Colony): Rs 2,700 per sq.ft (2024)
• Govindasamy Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Gopalapuram Bajanai Koil 3rd Street: Rs 3,301 per sq.ft (2024)
• Gopalapuram Bajanai Koil 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Hightension Line Road

For a 1,000 sq.ft plot at the current rate of Rs 3,301 per sq.ft, the guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, making the total Rs 2,97,090. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Hightension Line Road?

The Sub Registrar Office that covers Hightension Line Road 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 Peravallur

The guideline value is a crucial factor when registering property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value helps in assessing the fair value of the property for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Hightension Line Road?

The current guideline value of Hightension Line Road is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 431 per sq.ft in 2003 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 666% over the years.

What are the other streets in Peravallur with similar values?

Other streets in Peravallur include Haridoss 2nd Street, Haridoss 1st Street, and Guruswamy Street, all valued at Rs 2,700 per sq.ft in 2024, while Govindasamy Street and Gopalapuram Bajanai Koil 3rd Street share the same value as Hightension Line Road at Rs 3,301 per sq.ft.

How is stamp duty calculated for properties in Hightension Line Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,01,000 incurs a stamp duty of Rs 2,31,070 at 7%.

Where can I find the Sub Registrar Office for Hightension Line Road?

The Sub Registrar Office for Hightension Line Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.