Guideline Value for Penko Colony 6th Street

Penko Colony 6th Street guideline value

The current guideline value of Penko Colony 6th 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 6th Street has changed

Over the years, the guideline value for Penko Colony 6th Street has seen significant changes. In 2003, the guideline value was Rs 729 per sq.ft, which increased to Rs 3,300 per sq.ft in 2007, marking a substantial rise of 353%. Following this, the value surged to Rs 6,000 per sq.ft in 2012, reflecting an increase of 82%. However, there was a decrease to Rs 4,020 per sq.ft in 2017, a drop of 33%. The guideline value then rose to Rs 6,000 per sq.ft in 2023, before reaching the current value of Rs 6,600 per sq.ft in 2024, which is a 10% increase.

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

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO with 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 guideline value of Penko Colony 6th Street.

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

Stamp duty and registration fee for property in Penko Colony 6th 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, resulting in a total of 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Penko Colony 6th Street?

The Sub Registrar Office that covers Penko Colony 6th 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 crucial factor in the property registration process in Urur. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers should be aware that the guideline value can significantly influence the total cost of the transaction.

When registering a property, the guideline value serves as a benchmark for assessing the transaction. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Penko Colony 6th Street?

The current guideline value of Penko Colony 6th 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 from Rs 729 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 805%.

What is the land classification for Penko Colony 6th Street?

Penko Colony 6th Street is classified under Residential Class II Type - I land classification.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where can I find the Sub Registrar Office for Penko Colony 6th Street?

The Adayar Sub Registrar Office, which covers Penko Colony 6th Street, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.