Guideline Value for S.R.P. Colony 1st Main Road

S.R.P. Colony 1st Main Road guideline value

The current guideline value of S.R.P. Colony 1st Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam Sub Registrar Office, classified as Commercial Class I Type - I.

How the guideline value of S.R.P. Colony 1st Main Road has changed

The guideline value for S.R.P. Colony 1st Main Road has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,400 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a 257% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, which was a decline of 33%. The value continued to rise to Rs 5,000 per sq.ft in 2023, and most recently, it has been set at Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 293%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, making the guideline value of S.R.P. Colony 1st Main Road above this median.

• S.R.P. Colony 1st Cross 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 15th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 3rd 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 4th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.P. Colony 1st Main Road

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 and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers S.R.P. Colony 1st Main Road?

The S.R.P. Colony 1st Main Road falls under the jurisdiction of 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 is a crucial factor in the registration process 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 government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value helps both parties understand the value of the property in question. It is essential for buyers to be aware of this value as it directly impacts the costs associated with the transaction.

Frequently asked questions

What is the current guideline value of S.R.P. Colony 1st Main Road?

The current guideline value of S.R.P. Colony 1st Main Road 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 1,400 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 293% over the years.

Where can I find the Sub Registrar Office for S.R.P. Colony 1st Main Road?

The Sub Registrar Office covering S.R.P. Colony 1st Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the stamp duty rate for properties in S.R.P. Colony 1st Main Road?

The stamp duty for properties in S.R.P. Colony 1st Main Road is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

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

Other streets in Peravallur that share the same guideline value of Rs 5,500 per sq.ft include S.R.P. Colony 1st Cross Street, S.R.P. Colony 2nd Street, S.R.P. Colony 15th Street, S.R.P. Colony 3rd Street, S.R.P. Colony 14th Street, and S.R.P. Colony 4th Street.