Guideline Value for S.R.P. Colony 9th Street

S.R.P. Colony 9th Street guideline value

The current guideline value of S.R.P. Colony 9th Street, located in Peravallur village under the Sembiam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of S.R.P. Colony 9th Street has changed

The guideline value for S.R.P. Colony 9th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the 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, between 2012 and 2017, the value decreased to Rs 3,350 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, followed by the most recent increase to Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for S.R.P. Colony 9th Street in the years 2002 and 2003. 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 carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,301 per sq.ft, placing S.R.P. Colony 9th Street's 2024 figure above this median.

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

For a property measuring 1,000 sq.ft 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 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 9th Street?

The S.R.P. Colony 9th 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 further assistance.

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 stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the buyer usually pays the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of S.R.P. Colony 9th Street?

The current guideline value of S.R.P. Colony 9th 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 seen several changes, starting from Rs 1,000 per sq.ft in 2007, increasing to Rs 5,000 in 2012, then decreasing to Rs 3,350 in 2017, and rising to Rs 5,000 in 2023 before reaching Rs 5,500 in 2024.

What is the land classification of S.R.P. Colony 9th Street?

S.R.P. Colony 9th Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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 the registration of properties in the area.

How is the stamp duty calculated for properties in S.R.P. Colony 9th Street?

Stamp duty for properties in S.R.P. Colony 9th Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.