Guideline Value for Land Acquisation Road

Land Acquisation Road guideline value

The current guideline value of Land Acquisation Road in Peravallur village is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Sembiam Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Land Acquisation Road has changed

The guideline value for Land Acquisation Road has undergone several revisions over the years. In 2002, the guideline value was Rs 391 per sq.ft, which increased to Rs 426 per sq.ft in 2003. Following this, there was a significant rise to Rs 800 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, the value dropped to Rs 1,675 per sq.ft in 2017. The most recent revisions saw an increase to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2002 to 2003, the value increased by 9%. The rise from 2003 to 2007 was 88%, followed by a substantial 213% increase from 2007 to 2012. The value then decreased by 33% from 2012 to 2017. A significant jump of 49% occurred from 2017 to 2023, and the final increase from 2023 to 2024 was 8%. Overall, from 2002 to 2024, the guideline value has increased by 591%.

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 guideline value for these streets is Rs 3,301 per sq.ft, placing Land Acquisation Road's 2024 figure below that median.

• Loganathan Chetty Street: Rs 2,700 per sq.ft (2024)
• Loganathan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Lakshmi Nagar (George Colony): Rs 2,700 per sq.ft (2024)
• Lakshman Nagar West: Rs 2,700 per sq.ft (2024)
• Lakshman Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Lakshman Nagar East Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Land Acquisation Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Land Acquisation Road?

The Sembiam Sub Registrar Office covers Land Acquisation Road, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Peravallur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the state authorities.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency in property transactions and helps prevent undervaluation.

Frequently asked questions

What is the current guideline value for Land Acquisation Road?

The current guideline value for Land Acquisation Road is Rs 2,700 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 391 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 591% over the years.

What are the stamp duty and registration fees for properties on this road?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Land Acquisation Road?

The Sembiam Sub Registrar Office handles registrations for Land Acquisation Road, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value determined for properties in Peravallur?

The guideline value is determined by the state authorities based on various factors, including location and land classification, and is updated periodically to reflect market conditions.