Guideline Value for Penko Colony 3rd Street

Penko Colony 3rd Street guideline value

The current guideline value of Penko Colony 3rd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Urur village under the Adayar SRO, classified as Residential Class II Type - I.

How the guideline value of Penko Colony 3rd Street has changed

The guideline value for Penko Colony 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 616 per sq.ft. This increased to Rs 729 per sq.ft in 2003, marking an 18% rise. The value then saw a significant increase of 353% to Rs 3,300 per sq.ft in 2007. Following this, the value rose by 82% to Rs 6,000 per sq.ft in 2012. However, 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 latest 2024 revision has increased it by 10% to Rs 6,600 per sq.ft.

Overall, from 2002 to 2024, the guideline value has increased by 971%. There are no figures available for the years between these revisions for this street.

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. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Penko Colony 3rd Street.

• Penko Colony 2nd Street: Rs 6,600 per sq.ft (2024)
• Penko Colony 4th Street: Rs 6,600 per sq.ft (2024)
• Penko Colony 1st Street: Rs 6,600 per sq.ft (2024)
• Penko Colony 5th Street: Rs 6,600 per sq.ft (2024)
• Penko Colony 1st Cross 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. Please 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 details.

Which Sub Registrar Office covers Penko Colony 3rd Street?

The Sub Registrar Office that covers Penko Colony 3rd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Urur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair transaction price. Buyers and sellers should be aware of the guideline value to ensure compliance with registration requirements and to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Penko Colony 3rd Street?

The current guideline value of Penko Colony 3rd 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, increasing from Rs 616 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, which is an overall increase of 971%.

What is the stamp duty for properties in Penko Colony 3rd Street?

The stamp duty for properties in Penko Colony 3rd Street is 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 4,62,000.

Where can I find the Sub Registrar Office for Penko Colony 3rd Street?

The Sub Registrar Office for Penko Colony 3rd Street is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification of Penko Colony 3rd Street?

Penko Colony 3rd Street is classified as Residential Class II Type - I under the Adayar SRO.