Guideline Value for Paper Mills Road

Paper Mills Road guideline value

The current guideline value of Paper Mills Road in Siruvallur village, under the Sembiam SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This area 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. Starting from the 2002 revision, the value was Rs 571 per sq.ft, which increased to Rs 627 per sq.ft in 2003. Following this, the value rose to Rs 1,846 per sq.ft in 2007, marking an increase of 194%. In 2012, the value was Rs 6,000 per sq.ft, but it decreased by 33% to Rs 4,020 per sq.ft in 2017. The 2023 revision set the value at Rs 6,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 6,600 per sq.ft, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,056%. There are no figures for the revisions in years other than those specified above for this street.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value 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 of Paper Mills Road is above this median.

• Paper Mills Road 1nd Lane: Rs 3,300 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

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total charges together Rs 5,94,000. 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 own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Paper Mills Road?

The Sub Registrar Office covering 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 Siruvallur

The guideline value plays a crucial role in the registration process when buying or selling property in Siruvallur. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to consult the guideline value to ensure compliance with local regulations. This value is updated periodically, reflecting changes in the real estate landscape, and it is important to stay informed about these updates for accurate financial planning.

Frequently asked questions

What is the current guideline value of Paper Mills Road?

The current guideline value of Paper Mills Road is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 571 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1,056% over the years.

What is the land classification for Paper Mills Road?

Paper Mills Road is classified as Commercial Special Type - I, which is relevant for determining its guideline value.

Where can I find the Sub Registrar Office for 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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 66,00,000.