Guideline Value for Paper Mills Road

Paper Mills Road guideline value

The current guideline value of Paper Mills Road in Sembiam village, under the Sembiam SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Paper Mills Road has changed

The guideline value for Paper Mills Road has undergone several revisions over the years. In 2002, the guideline value was Rs 565 per sq.ft, which increased to Rs 613 per sq.ft in 2003, marking an 8% rise. The value further increased to Rs 900 per sq.ft in 2007, showing a significant increase of 47%. In 2012, the value was Rs 6,500 per sq.ft, reflecting a substantial increase of 622% from the previous revision. However, it dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 6,500 per sq.ft in 2023, before reaching the current rate of 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 1,157%. There are no figures available for revisions in years other than those listed above for this street.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO, with guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft as of 2024. The median value among these streets is Rs 2,700 per sq.ft, placing Paper Mills Road's 2024 figure above that median.

• Pandiyan Street: Rs 2,700 per sq.ft (2024)
• Pallavan Street: Rs 2,700 per sq.ft (2024)
• Pavazha Kalyana Sundara Mudaliyar Road: Rs 1,900 per sq.ft (2024)
• Periya Palayathamman Koil Street: Rs 1,900 per sq.ft (2024)
• Ottraivadai Street / 40ft Road Anmai Don Bosco School: Rs 2,700 per sq.ft (2024)
• Ottraivadai Street: Rs 1,700 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, resulting in a total of Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Sembiam

The guideline value plays a crucial role in the registration process when buying or selling property. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a specified percentage. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

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, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 565 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1,157% over this period.

What is the land classification for Paper Mills Road?

Paper Mills Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for a property 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.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, where property registrations for this area are processed.