Guideline Value for S.R.P. Colony 10th Street

S.R.P. Colony 10th Street guideline value

The current guideline value of S.R.P. Colony 10th Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, classified as Commercial Class I Type - I.

How the guideline value of S.R.P. Colony 10th Street has changed

The guideline value for S.R.P. Colony 10th Street has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a 400% rise. However, the value then dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 5,000 per sq.ft, and the latest 2024 revision increased it to Rs 5,500 per sq.ft, reflecting a 10% rise.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value of S.R.P. Colony 10th Street is above this median.

• S.R.P.C. Housing Society Land Acquisation Road: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 11th Street: Rs 5,500 per sq.ft (2024)
• S.R.P.C. Housing Society: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 12th Street: Rs 5,500 per sq.ft (2024)
• S.R.P.C. 70 Feet Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 13th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.P. Colony 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. Please 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 further calculations.

Which Sub Registrar Office covers S.R.P. Colony 10th Street?

The S.R.P. Colony 10th Street falls under the Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction reflects the appropriate value for tax purposes.

Frequently asked questions

What is the current guideline value for S.R.P. Colony 10th Street?

The current guideline value for S.R.P. Colony 10th Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 1,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 450%.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in S.R.P. Colony 10th Street.

What are the stamp duty and registration fees for properties in S.R.P. Colony 10th Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

What is the land classification for S.R.P. Colony 10th Street?

S.R.P. Colony 10th Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.