Guideline Value for Paper Mills Road

Paper Mills Road guideline value

The current guideline value of Paper Mills Road in Peravallur village, under the Sembiam SRO, is Rs 7,100 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is 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 the 2002 revision, the value was Rs 497 per sq.ft. This increased to Rs 600 per sq.ft in 2003, marking a 21% rise. The value then jumped to Rs 1,400 per sq.ft in 2007, representing a 133% increase. Following this, the 2012 revision saw a substantial increase to Rs 6,500 per sq.ft, which was a remarkable 364% increase. However, in the 2017 revision, the value decreased to Rs 4,355 per sq.ft, reflecting a 33% decline. The guideline value then rose again to Rs 6,500 per sq.ft in 2023, showing a 49% increase, and finally reached Rs 7,100 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1329%. There are no figures available for the revisions in other years 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 for these streets is Rs 3,301 per sq.ft, placing Paper Mills Road's 2024 figure above that median.

• Parthasarathy Reddy Street: Rs 2,400 per sq.ft (2024)
• Pallavan Salai: Rs 2,700 per sq.ft (2024)
• Perambur Co-operative Land Acquisation Road: Rs 3,301 per sq.ft (2024)
• Periyar Nagar 10th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 10th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 11th Cross Street: Rs 4,200 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 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost for these fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use 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 Peravallur

The guideline value is a crucial factor when registering property in Peravallur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs for property transactions. It is essential for buyers and sellers to be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Paper Mills Road?

The current guideline value of Paper Mills Road is Rs 7,100 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 497 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1329% over this period.

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

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office covers Paper Mills Road?

The Sembiam Sub Registrar Office covers Paper Mills Road, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Paper Mills Road?

The land classification for Paper Mills Road is Commercial Special Type - I, indicating its specific use and regulatory framework.