Guideline Value for S.R.P. Colony 12th Street

S.R.P. Colony 12th Street guideline value

The current guideline value of S.R.P. Colony 12th 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 it falls under the Commercial Class I Type - I land classification.

How the guideline value of S.R.P. Colony 12th Street has changed

The guideline value for S.R.P. Colony 12th Street has seen significant changes over the years. The 2007 revision set the rate at Rs 1,000 per sq.ft, which then increased to Rs 5,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value dropped to Rs 3,350 per sq.ft, a decrease of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, followed by a further increase to Rs 5,500 per sq.ft in 2024, reflecting a 10% change.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 450%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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 12th Street is above this median.

• S.R.P. Colony 11th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 13th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 10th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 14th 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 15th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.P. Colony 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to 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 information.

Which Sub Registrar Office covers S.R.P. Colony 12th Street?

The S.R.P. Colony 12th Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process for 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. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid.

Frequently asked questions

What is the current guideline value of S.R.P. Colony 12th Street?

The current guideline value of S.R.P. Colony 12th 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 significantly, starting from Rs 1,000 per sq.ft in 2007, rising to Rs 5,000 in 2012, dropping to Rs 3,350 in 2017, and increasing to Rs 5,000 in 2023, before reaching Rs 5,500 in 2024.

What is the land classification for S.R.P. Colony 12th Street?

S.R.P. Colony 12th Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for S.R.P. Colony 12th Street?

The registration office for S.R.P. Colony 12th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in S.R.P. Colony 12th Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 4,95,000.