Guideline Value for S.R.P.C. Housing Society

S.R.P.C. Housing Society guideline value

The current guideline value of S.R.P.C. Housing Society is Rs 5,500 per sq.ft, effective from 1 July 2024. This society 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. Housing Society has changed

The guideline value for S.R.P.C. Housing Society has seen several revisions over the years. In 2002, the value was Rs 467 per sq.ft, which increased to Rs 509 per sq.ft in 2003. Following that, the value rose significantly to Rs 1,000 per sq.ft in 2007. The 2012 revision saw a decrease to Rs 5,000 per sq.ft, but it rebounded to Rs 3,350 per sq.ft in 2017. The value then increased to Rs 5,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 5,500 per sq.ft.

Overall, from 2002 to 2024, the guideline value has increased by 1,078%. The changes between revisions include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 400% increase from 2007 to 2012, a 96% increase from 2003 to 2007, and a 9% increase from 2002 to 2003. There are no figures available for any other revisions for this street.

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, with a median value of Rs 3,301 per sq.ft. The guideline value for S.R.P.C. Housing Society is above this median.

• S.R.P.C. 70 Feet Street: 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. Housing Society

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 further calculations.

Which Sub Registrar Office covers S.R.P.C. Housing Society?

The S.R.P.C. Housing Society 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 during the registration of property transactions in Peravallur. It is used to determine the stamp duty and registration fees that must be paid, ensuring that both the buyer and seller are aware of the official value of the property being transferred.

When you buy or sell a property, the guideline value serves as a benchmark for the transaction. It helps in assessing the financial implications of the sale, as duties are charged based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of S.R.P.C. Housing Society?

The current guideline value of S.R.P.C. Housing Society 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 467 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1,078% over the years.

What are the stamp duty rates for properties in S.R.P.C. Housing Society?

The stamp duty for properties in S.R.P.C. Housing Society is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is 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, serving as a benchmark for the official value of the property being bought or sold.