Guideline Value for S.B.O.A COLONY

S.B.O.A Colony guideline value

The current guideline value of S.B.O.A Colony, located in Perambur village under the Purasaivakkam SRO, is Rs 6,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of S.B.O.A Colony has changed

The guideline value of S.B.O.A Colony has seen several revisions over the years. In 2002, the value was Rs 649 per sq.ft, which increased to Rs 712 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 1,140 per sq.ft in 2007, reflecting a 60% increase. By 2012, the value reached Rs 6,000 per sq.ft, which was a substantial increase of 426% from the previous revision. However, this was followed by a decrease to Rs 4,020 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 6,000 per sq.ft, representing a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 6,400 per sq.ft, which is a 7% increase from the previous year. There are no figures available in the register for the years not mentioned in this summary.

Guideline values in Perambur

In Perambur, the guideline values for 2024 range from Rs 1,600 to Rs 7,100 per sq.ft across 1,114 streets under the Purasaivakkam SRO, with a median value of Rs 2,700 per sq.ft. S.B.O.A Colony's current guideline value is above this median.

• S.B.O.A Colony 1st Street: Rs 6,400 per sq.ft (2024)
• S.B.O.A Colony 2nd Street: Rs 6,400 per sq.ft (2024)
• School Lane: Rs 5,400 per sq.ft (2024)
• School Road: Rs 6,400 per sq.ft (2024)
• Sathyavani Muthu Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Sathyavani Muthu Nagar 8th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in S.B.O.A Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 6,400 per sq.ft, the total guideline value would be Rs 64,00,000. The stamp duty at 7% would amount to Rs 4,48,000, and the registration fee at 2% would be Rs 1,28,000, bringing the total cost to Rs 5,76,000. 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 details.

Which Sub Registrar Office covers S.B.O.A Colony?

The Sub Registrar Office that covers S.B.O.A Colony is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perambur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for legal ownership transfer.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in avoiding legal complications in the future.

Frequently asked questions

What is the current guideline value of S.B.O.A Colony?

The current guideline value of S.B.O.A Colony is Rs 6,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 649 per sq.ft in 2002 to Rs 6,400 per sq.ft in 2024, marking an overall increase of 886% over the years.

What are the other streets in Perambur with similar guideline values?

Several other streets in Perambur have similar guideline values, including S.B.O.A Colony 1st Street and 2nd Street at Rs 6,400 per sq.ft, and School Road at Rs 6,400 per sq.ft as well.

How is stamp duty calculated in S.B.O.A Colony?

Stamp duty in S.B.O.A Colony is calculated at 7% of the guideline value or the sale price, whichever is higher. This is added to the registration fee of 2% to determine the total cost.

Where can I find the Sub Registrar Office for S.B.O.A Colony?

The Sub Registrar Office for S.B.O.A Colony is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.