Guideline Value for S.R.P. Colony 1st Cross Street

S.R.P. Colony 1st Cross Street guideline value

The current guideline value for S.R.P. Colony 1st Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Commercial Class I Type - I.

How the guideline value of S.R.P. Colony 1st Cross Street has changed

The guideline value for S.R.P. Colony 1st Cross Street has undergone several revisions over the years. In the 2007 revision, the rate was Rs 1,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a 400% increase. However, in the 2017 revision, the value decreased to Rs 3,350 per sq.ft, which was a 33% drop. The 2023 revision saw a rise to Rs 5,000 per sq.ft, and the most recent 2024 revision has set the guideline value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 guideline value, there has been a substantial increase of 450%. It is important to note that 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. The median value for these streets is Rs 3,301 per sq.ft, indicating that S.R.P. Colony 1st Cross Street's current value is above this median.

• S.R.P. Colony 15th 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 14th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 2nd 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 3rd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.P. Colony 1st Cross 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, bringing the total fees together to 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.R.P. Colony 1st Cross Street?

The S.R.P. Colony 1st Cross Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value according to government standards.

When buying or selling property, the guideline value will influence the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for S.R.P. Colony 1st Cross Street?

The current guideline value for S.R.P. Colony 1st Cross 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, marking an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft property, the total guideline value is Rs 55,00,000, with stamp duty at Rs 3,85,000 and registration fees at Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sembiam Sub Registrar Office located?

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

What is the median guideline value for streets in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft, with S.R.P. Colony 1st Cross Street having a value above this median.