Guideline Value for S.R.P. Colony 4th Street

S.R.P. Colony 4th Street guideline value

The current guideline value of S.R.P. Colony 4th 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 4th Street has changed

The guideline value for S.R.P. Colony 4th 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 2012. However, there was a decrease to Rs 3,350 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 5,000 per sq.ft, followed by a further rise to Rs 5,500 per sq.ft in the 2024 revision.

Between the revisions, the changes are noteworthy: from 2007 to 2012, there was an increase of 400%. The value decreased by 33% from 2012 to 2017. Then, from 2017 to 2023, the value increased by 49%. Finally, from 2023 to 2024, the guideline value rose by 10%. Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, the guideline values range from Rs 2,200 to Rs 7,100 per sq.ft as of 2024, with a median value of Rs 3,301 per sq.ft. The guideline value of S.R.P. Colony 4th Street is above this median.

• S.R.P. Colony 3rd Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 5th 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 6th 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 7th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.P. Colony 4th 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.R.P. Colony 4th Street?

The S.R.P. Colony 4th Street is covered by 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 crucial factor when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher value will be used for calculating applicable duties.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in real estate transactions. It is essential for both buyers and sellers to understand the implications of the guideline value on their property dealings.

Frequently asked questions

What is the current guideline value of S.R.P. Colony 4th Street?

The current guideline value of S.R.P. Colony 4th 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%. There were fluctuations in the values during the intervening years, including a decrease in 2017.

What is the land classification of S.R.P. Colony 4th Street?

S.R.P. Colony 4th Street is classified as Commercial Class I Type - I. This classification affects the guideline value and potential uses of the property.

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 properties in the area.

How is the stamp duty calculated for properties in S.R.P. Colony 4th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at the rate of 7%.