Guideline Value for S.R.P.C. 70 Feet Street

S.R.P.C. 70 Feet Street guideline value

The current guideline value of S.R.P.C. 70 Feet 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 is classified as Commercial Class I Type - I.

How the guideline value of S.R.P.C. 70 Feet Street has changed

The guideline value for S.R.P.C. 70 Feet Street has seen significant changes over the years. In 2003, the value was Rs 603 per sq.ft, which increased to Rs 1,400 per sq.ft in 2007. The 2012 revision saw a rise to Rs 5,000 per sq.ft, but this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then increased to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 49%. The value then rose by 10% from 2023 to 2024. Notably, from 2003 to 2024, the overall increase is a substantial 812%, reflecting the changes in the market over the years.

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 value is Rs 3,301 per sq.ft, making S.R.P.C. 70 Feet Street's 2024 figure of Rs 5,500 per sq.ft above that median.

• S.R.P.C. Housing Society: Rs 5,500 per sq.ft (2024)
• S.R.P.C. Housing Society Land Acquisition Road: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 10th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 11th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 12th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 13th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.P.C. 70 Feet 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S.R.P.C. 70 Feet Street?

The Sub Registrar Office that covers S.R.P.C. 70 Feet Street is 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 in the registration process when buying or selling property in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of S.R.P.C. 70 Feet Street?

The current guideline value of S.R.P.C. 70 Feet 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 significantly from Rs 603 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 812% over this period.

What are the stamp duty and registration fees for property 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.

Which Sub Registrar Office covers S.R.P.C. 70 Feet Street?

The Sembiam Sub Registrar Office covers S.R.P.C. 70 Feet Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions in Peravallur, ensuring compliance with legal requirements.