Guideline Value for S.R.P. Colony 6th Street

S.R.P. Colony 6th Street guideline value

The current guideline value of S.R.P. Colony 6th Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, and it is classified as Commercial Class I Type - I.

How the guideline value of S.R.P. Colony 6th Street has changed

The guideline value for S.R.P. Colony 6th Street has undergone several revisions over the years. The oldest recorded figure is from 2007, where the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value decreased to Rs 3,350 per sq.ft, representing a decline of 33%. The value then saw a substantial increase to Rs 5,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the guideline value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that have a guideline value for 2024, 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, making the 2024 value of S.R.P. Colony 6th Street above this median.

• S.R.P. Colony 5th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 7th 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 8th 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 9th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.P. Colony 6th 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, while 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.R.P. Colony 6th Street?

The S.R.P. Colony 6th Street falls under the jurisdiction of 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 plays a crucial role in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded at fair values as per government standards.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of S.R.P. Colony 6th Street?

The current guideline value of S.R.P. Colony 6th 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% across the years.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

What is the median guideline value in Peravallur?

The median guideline value in Peravallur is Rs 3,301 per sq.ft, and S.R.P. Colony 6th Street's 2024 value is above this median.

Which office handles registrations for S.R.P. Colony 6th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for S.R.P. Colony 6th Street.