Guideline Value for S.R.P. Colony 3rd Street

S.R.P. Colony 3rd Street guideline value

The current guideline value of S.R.P. Colony 3rd 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 3rd Street has changed

The guideline value for S.R.P. Colony 3rd Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a 400% increase. However, this value decreased to Rs 3,350 per sq.ft in 2017, reflecting a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 5,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, a 10% increase from the previous year. The register has no figures for S.R.P. Colony 3rd Street for the years 2002 and 2003.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 3,301 per sq.ft, placing S.R.P. Colony 3rd Street above this median at Rs 5,500 per sq.ft.

• S.R.P. Colony 2nd Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 4th 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 5th 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 6th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.P. Colony 3rd 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 to Rs 4,95,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers S.R.P. Colony 3rd Street?

The S.R.P. Colony 3rd 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 is a critical factor during the registration of property transactions in Peravallur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the state receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of S.R.P. Colony 3rd Street?

The current guideline value of S.R.P. Colony 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much 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 the years.

What is the median guideline value in Peravallur?

The median guideline value in Peravallur is Rs 3,301 per sq.ft, with S.R.P. Colony 3rd Street's value being above this median at Rs 5,500 per sq.ft.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for S.R.P. Colony 3rd Street.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 incurs a total fee of Rs 4,95,000.