Guideline Value for Peninsula Housing Scheme

Peninsula Housing Scheme guideline value

The current guideline value for the Peninsula Housing Scheme in Kaduvancheri village is Rs 200 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Peninsula Housing Scheme has changed

Over the years, the guideline value for the Peninsula Housing Scheme has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. In 2023, the value returned to Rs 200 per sq.ft, and this figure has been maintained in the 2024 revision, showing no percentage change from 2023 to 2024.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained the same, with a total change of +0% over this period.

Guideline values in Kaduvancheri

Kaduvancheri village has 37 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,500 per sq.ft, with a median value of Rs 300 per sq.ft. The Peninsula Housing Scheme's 2024 figure is below this median.

• Pakialakshmi Nagar: Rs 250 per sq.ft (2024)
• Om sakthi Elangaliamman Nagar: Rs 400 per sq.ft (2024)
• Ragas: Rs 300 per sq.ft (2024)
• Nellooramman Koil Street: Rs 100 per sq.ft (2024)
• Melamaruvathur Adhiparasakthi Nagar: Rs 300 per sq.ft (2024)
• Mahidhara Supreme classic: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Peninsula Housing Scheme

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Peninsula Housing Scheme?

The Peninsula Housing Scheme is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Kaduvancheri

The guideline value is a critical factor during the registration of property transactions in Kaduvancheri. It serves as a benchmark for determining the minimum price at which a property can be sold or bought, ensuring that the transaction is recorded accurately.

When a buyer or seller approaches the registration office, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value for Peninsula Housing Scheme?

The current guideline value for the Peninsula Housing Scheme is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent changes showing a return to Rs 200 per sq.ft in 2023 and 2024, following a dip to Rs 134 per sq.ft in 2017.

What is the land classification for Peninsula Housing Scheme?

The land classification for the Peninsula Housing Scheme is Residential Class II Type - I.

What is the registration office for Kaduvancheri?

The registration office for Kaduvancheri is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kaduvancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 at 7%.