Guideline Value

Corporate

Guideline Value for Penko Colony 1st Cross Street

₹6600/sq.ft.

The guideline value for Penko Colony 1st Cross Street in Urur village (Adayar SRO, Chennai zone) is Rs 6600 per sq.ft, effective 1 July 2024. It was Rs 6000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Urur

Village

Adayar

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹6600 /sq.ft.
From 1-4-2023 ₹6000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹4020 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹6000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹3300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹729 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹616 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.161(71/6), L.b Road (dr.muthulakshmi Salai) Tnhb Building,third Floor,thiruvanmiyur,chennai-600041
044-24415011
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Penko Colony 1st Cross Street

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Penko Colony 1st Cross Street guideline value

The current guideline value of Penko Colony 1st Cross Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Urur village and falls under the Adayar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Penko Colony 1st Cross Street has changed

The guideline value for Penko Colony 1st Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 616 per sq.ft, which increased to Rs 729 per sq.ft in 2003. Following that, there was a significant rise to Rs 3,300 per sq.ft in 2007, and then it further increased to Rs 6,000 per sq.ft in 2012. However, there was a decrease to Rs 4,020 per sq.ft in 2017. The value then rose to Rs 6,000 per sq.ft in 2023, and the most recent revision in 2024 has set the value at Rs 6,600 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, the increase was +18%. The rise from 2003 to 2007 was +353%. There was a +82% increase from 2007 to 2012, followed by a decrease of -33% from 2012 to 2017. The guideline value then saw a +49% increase from 2017 to 2023, and finally, a +10% increase from 2023 to 2024.

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, which is equal to the guideline value of Penko Colony 1st Cross Street.

Stamp duty and registration fee for property in Penko Colony 1st Cross Street

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, bringing the total to Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Penko Colony 1st Cross Street?

The Sub Registrar Office that covers Penko Colony 1st Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Urur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When finalizing a property transaction, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Penko Colony 1st Cross Street?

The current guideline value of Penko Colony 1st Cross Street 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 significantly, starting from Rs 616 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Penko Colony 1st Cross Street?

The land classification for Penko Colony 1st Cross Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Penko Colony 1st Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.