Guideline Value for S.R.P. Colony 13th Street

S.R.P. Colony 13th Street guideline value

The current guideline value of S.R.P. Colony 13th 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 13th Street has changed

The guideline value for S.R.P. Colony 13th Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this figure dropped to Rs 3,350 per sq.ft in 2017. Following this, the value rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The jump from 2007 to 2012 was substantial at 400%. Overall, from 2007 to 2024, the guideline value has increased by 450%. 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 13th Street is above this median.

• S.R.P. Colony 12th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 14th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 11th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 15th 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 1st Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.P. Colony 13th 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. Duty is charged on the higher of the guideline value and 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 13th Street?

The S.R.P. Colony 13th 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 plays a crucial role when buying or selling property in Peravallur. It is used to determine the stamp duty and registration fees that must be paid at the time of property registration. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value is checked to ensure compliance with government regulations. This helps maintain transparency in property transactions and ensures that buyers and sellers are aware of the financial obligations involved in the process.

Frequently asked questions

What is the current guideline value of S.R.P. Colony 13th Street?

The current guideline value of S.R.P. Colony 13th 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, reflecting an overall increase of 450% over the years.

What is the land classification of S.R.P. Colony 13th Street?

S.R.P. Colony 13th Street is classified as Commercial Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in S.R.P. Colony 13th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,85,000.