Guideline Value for S.R.P. Colony 15th Street

S.R.P. Colony 15th Street guideline value

The current guideline value of S.R.P. Colony 15th 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 15th Street has changed

The guideline value for S.R.P. Colony 15th Street has seen several revisions over the years. The earliest available figure is from 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then 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.

Between the revisions, the changes were notable. From 2007 to 2012, the value increased by 400%. However, from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023, and most recently, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 450%. There are no figures available for the revisions in 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 15th Street is above this median.

• S.R.P. Colony 14th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 1st Cross 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 1st Main Road: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 12th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 2nd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.P. Colony 15th 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, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.R.P. Colony 15th Street?

The S.R.P. Colony 15th Street falls under the Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Peravallur. It serves as a benchmark for determining the minimum value at which property transactions must be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall cost involved in the transaction. Buyers should ensure that the sale price is in line with or above the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of S.R.P. Colony 15th Street?

The current guideline value of S.R.P. Colony 15th 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 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 this period.

What are the other streets in Peravallur with the same guideline value?

Other streets in Peravallur with the same guideline value of Rs 5,500 per sq.ft include S.R.P. Colony 14th Street, S.R.P. Colony 1st Cross Street, S.R.P. Colony 13th Street, S.R.P. Colony 1st Main Road, S.R.P. Colony 12th Street, and S.R.P. Colony 2nd Street.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in S.R.P. Colony 15th Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. It is the office responsible for property registrations in this area.