Guideline Value for Paper Mills Road

Paper Mills Road guideline value

The current guideline value of Paper Mills Road is Rs 6,000 per sq.ft, effective from 1 July 2024. This road is located in Kolathur village, under the Sembiam SRO, and is classified as Commercial Special Type - I.

How the guideline value of Paper Mills Road has changed

The guideline value for Paper Mills Road has seen significant changes over the years. In 2002, the value was Rs 349 per sq.ft, which increased to Rs 450 per sq.ft in 2003. This was followed by a substantial rise to Rs 1,200 per sq.ft in 2007, marking a 167% increase from the previous revision. The value then remained at Rs 5,500 per sq.ft from 2012 until 2023, with no figure available for 2017.

In 2023, the guideline value was revised to Rs 5,500 per sq.ft, and then increased to Rs 6,000 per sq.ft in 2024, representing a 9% rise. Overall, from 2002 to 2024, the guideline value has increased by 1619%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a guideline value for 2024 ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Paper Mills Road's 2024 figure above that median.

• Paruindevi Amman Nagar: Rs 3,300 per sq.ft (2024)
• Parvathi Nagar: Rs 2,700 per sq.ft (2024)
• Parvathy Amman Nagar: Rs 2,700 per sq.ft (2024)
• Pasumpon Nagar: Rs 2,700 per sq.ft (2024)
• Pa.U.Shanmugam Nagar: Rs 4,400 per sq.ft (2024)
• Padmavathi Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Paper Mills Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total fees Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Paper Mills Road?

The Sub Registrar Office that covers Paper Mills 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 Kolathur

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value will be referenced to calculate the applicable stamp duty and registration fees. This process ensures transparency and helps maintain a standard valuation across all properties in the area.

Frequently asked questions

What is the current guideline value of Paper Mills Road?

The current guideline value of Paper Mills Road is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 349 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, showing an overall increase of 1619% over this period.

What is the land classification of Paper Mills Road?

Paper Mills Road is classified as Commercial Special Type - I under the guideline value register.

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

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more details by visiting the appropriate link.