Guideline Value for Penko Colony 2nd Street

Penko Colony 2nd Street guideline value

The current guideline value of Penko Colony 2nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Urur village under the Adayar SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Penko Colony 2nd Street has changed

The guideline value for Penko Colony 2nd Street has seen several revisions over the years. In 2003, the value was Rs 729 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in 2007, marking a change of +353%. The value then rose to Rs 6,000 per sq.ft in 2012, reflecting an increase of +82%. However, from 2012 to 2017, the value dropped to Rs 4,020 per sq.ft, a decrease of -33%. Following this, the value surged to Rs 6,000 per sq.ft in 2023, representing a substantial increase of +49%. The most recent revision in 2024 has set the guideline value at Rs 6,600 per sq.ft, an increase of +10% from the previous year.

It is important to note that the register has no figure for this street in 2002. Overall, from 2003 to 2024, the guideline value has increased by +805%.

Guideline values in Urur

In Urur, 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, with the median being Rs 6,600 per sq.ft. The guideline value for Penko Colony 2nd Street matches this median.

• Penko Colony 1st Street: Rs 6,600 per sq.ft (2024)
• Penko Colony 3rd Street: Rs 6,600 per sq.ft (2024)
• Penko Colony 1st Cross Street: Rs 6,600 per sq.ft (2024)
• Penko Colony 4th Street: Rs 6,600 per sq.ft (2024)
• Penko Colony 5th Street: Rs 6,600 per sq.ft (2024)
• Penko Colony 6th Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Penko Colony 2nd 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 the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Penko Colony 2nd Street?

The Sub Registrar Office that covers Penko Colony 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Urur. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Penko Colony 2nd Street?

The current guideline value of Penko Colony 2nd 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 from Rs 729 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of +805% over the years.

What is the stamp duty rate for property in Penko Colony 2nd Street?

The stamp duty rate for property transactions in Penko Colony 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Penko Colony 2nd Street?

The Sub Registrar Office for Penko Colony 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Penko Colony 2nd Street?

Penko Colony 2nd Street falls under the Residential Class II Type - I land classification.