Guideline Value for S.R.P. Colony 11th Street

S.R.P. Colony 11th Street guideline value

The current guideline value for S.R.P. Colony 11th Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Commercial Class I Type - I.

How the guideline value of S.R.P. Colony 11th Street has changed

The guideline value for S.R.P. Colony 11th Street has seen several revisions over the years. In 2007, 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, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and most recently to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year. Notably, the register has no figures for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The changes between the revisions highlight the fluctuations in the property valuation for this street, with the most recent figure indicating a strong position compared to its historical values.

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 for S.R.P. Colony 11th Street is above this median.

• S.R.P. Colony 10th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 12th Street: Rs 5,500 per sq.ft (2024)
• S.R.P.C. Housing Society Land Acquisation Road: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 13th 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 14th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.P. Colony 11th Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would amount 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, totaling Rs 4,95,000. It is important to note that 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.R.P. Colony 11th Street?

The S.R.P. Colony 11th 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 the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value for S.R.P. Colony 11th Street?

The current guideline value for S.R.P. Colony 11th 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 changed from Rs 1,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing a significant increase over the years with various fluctuations in between.

What is the land classification for S.R.P. Colony 11th Street?

S.R.P. Colony 11th Street is classified as Commercial Class I Type - I, which indicates its usage and zoning regulations.

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 the area.

How is the stamp duty calculated for properties in S.R.P. Colony 11th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.