Guideline Value for Paper Mills Road 2nd Lane

Paper Mills Road 2nd Lane guideline value

The current guideline value of Paper Mills Road 2nd Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village under the Sembiam Sub Registrar Office (SRO), classified as Commercial Class I Type - III.

How the guideline value of Paper Mills Road 2nd Lane has changed

Since the 2007 revision, the guideline value for Paper Mills Road 2nd Lane has seen significant changes. In 2007, the guideline value was Rs 1,000 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is 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%.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that have a guideline value for 2024 ranging from Rs 1,600 to Rs 6,600 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value for Paper Mills Road 2nd Lane is above this median.

• Paper Mills Road 1nd Lane: Rs 3,300 per sq.ft (2024)
• Paper Mills Road: Rs 6,600 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 2nd Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Paper Mills Road 2nd Lane?

The Sub Registrar Office covering Paper Mills Road 2nd 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 an essential factor in property transactions in Siruvallur. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must consider this value to understand their financial obligations during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Paper Mills Road 2nd Lane?

The current guideline value of Paper Mills Road 2nd 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 changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the stamp duty and registration fees for properties on Paper Mills Road 2nd Lane?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Paper Mills Road 2nd Lane?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registrations for Paper Mills Road 2nd Lane.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of properties, which affects the stamp duty and registration fees payable during a property transaction. It ensures that the government receives appropriate revenue from property sales.