Guideline Value for Paper Mills Road 1nd Lane

Paper Mills Road 1nd Lane guideline value

The current guideline value of Paper Mills Road 1nd Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village under the Sembiam SRO, classified as Commercial Class I Type - III.

How the guideline value of Paper Mills Road 1nd Lane has changed

The guideline value for Paper Mills Road 1nd Lane has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The most recent revisions show a significant increase, with the value rising to Rs 3,000 per sq.ft in 2023 and further to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%, reflecting the various adjustments made over the years.

Guideline values in Siruvallur

In Siruvallur village, there are 86 streets under the Sembiam SRO, with guideline values ranging from Rs 1,600 to Rs 6,600 per sq.ft as of 2024. The median value is Rs 1,900 per sq.ft, placing the guideline value of Paper Mills Road 1nd Lane above this median.

• Paper Mills Road: Rs 6,600 per sq.ft (2024)
• Paper Mills Road 2nd Lane: Rs 3,300 per sq.ft (2024)
• Pananthoppu Railway Colony: Rs 1,900 per sq.ft (2024)
• Park Lane Street: Rs 1,900 per sq.ft (2024)
• Park Street: Rs 2,700 per sq.ft (2024)
• Palavoyal Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Paper Mills Road 1nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total costs together to Rs 2,97,000. 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 Paper Mills Road 1nd Lane?

The Sub Registrar Office that covers Paper Mills Road 1nd Lane 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 of property transactions in Siruvallur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value is used to assess the applicable duties, ensuring that both the buyer and seller are aware of the financial implications involved in the transaction. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value for Paper Mills Road 1nd Lane?

The current guideline value for Paper Mills Road 1nd Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several changes, increasing from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing a 230% overall increase.

What is the classification of land on Paper Mills Road 1nd Lane?

The land classification for Paper Mills Road 1nd Lane is Commercial Class I Type - III.

Where can I find the Sembiam Sub Registrar Office?

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

How is stamp duty calculated for properties in Paper Mills Road 1nd Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.