Guideline Value for SLUM CLEARANCE BOARD QUARTERS

Slum Clearance Board Quarters guideline value

The current guideline value of the Slum Clearance Board Quarters in Perambur village, under the Purasaivakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Slum Clearance Board Quarters has changed

The guideline value for the Slum Clearance Board Quarters has seen significant changes over the years. The earliest recorded figure is from 2002, where the value was Rs 336 per sq.ft. This increased to Rs 369 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 500 per sq.ft in 2007, reflecting a 36% increase. By 2017, the guideline value jumped to Rs 1,340 per sq.ft, a substantial 168% increase from the previous revision. The 2023 revision noted a further increase to Rs 2,000 per sq.ft, which was a 49% rise. Finally, the current 2024 revision has set the guideline value at Rs 2,200 per sq.ft, representing a 10% increase from 2023.

It is important to note that there is no figure available for the year 2012 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 555%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, indicating that the guideline value for the Slum Clearance Board Quarters is below the median.

• Siva Sakthi Vinayagar Koil Street: Rs 3,200 per sq.ft (2024)
• Somasundaram Nagar 1st Street: Rs 3,200 per sq.ft (2024)
• Somasundaram Nagar 2nd Street: Rs 3,200 per sq.ft (2024)
• Somasundaram Nagar Main Road: Rs 3,200 per sq.ft (2024)
• Somasundara Nagar: Rs 3,200 per sq.ft (2024)
• Sivagami Ammaiyar Colony All Streets: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Slum Clearance Board Quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. 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 Slum Clearance Board Quarters?

The Slum Clearance Board Quarters fall under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Perambur

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees based on the higher value between the guideline and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Slum Clearance Board Quarters?

The current guideline value for Slum Clearance Board Quarters is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 336 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 555%.

What is the land classification for Slum Clearance Board Quarters?

The land classification for the Slum Clearance Board Quarters is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur specific fees based on this amount.