Guideline Value for STEPHENSON 1ST STREET

Stephenson 1st Street guideline value

The current guideline value of Stephenson 1st Street is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Stephenson 1st Street has changed

The guideline value for Stephenson 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 800 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 400% rise. However, it then saw a decrease to Rs 2,680 per sq.ft in 2017, reflecting a 33% drop. The value rebounded to Rs 4,000 per sq.ft in 2023, and further increased to the current rate of Rs 4,300 per sq.ft in 2024, which is an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 438%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry 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, placing Stephenson 1st Street's current value above this median.

• Stephenson Lane: Rs 4,300 per sq.ft (2024)
• Stephenson Road: Rs 4,300 per sq.ft (2024)
• Subash Chandra Bose Road: Rs 3,800 per sq.ft (2024)
• Subbaraya Mudali Street: Rs 4,300 per sq.ft (2024)
• Subramaniam Koil Street: Rs 4,300 per sq.ft (2024)
• Subramaniam Lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Stephenson 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value would be Rs 43,00,000. The stamp duty at 7% would amount to Rs 3,01,000, while the registration fee at 2% would be Rs 86,000. Therefore, the total cost for stamp duty and registration would be Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Stephenson 1st Street?

The Sub Registrar Office that covers Stephenson 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is an important factor when registering property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees required during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is bought or sold, the registration process relies on the guideline value to calculate the applicable duties. This ensures that all parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Stephenson 1st Street?

The current guideline value of Stephenson 1st Street is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 438% over the years.

What are the other streets with similar guideline values in Perambur?

Other streets in Perambur with similar guideline values include Stephenson Lane, Stephenson Road, Subbaraya Mudali Street, and Subramaniam Koil Street, all valued at Rs 4,300 per sq.ft in 2024.

What is the registration fee for property in Stephenson 1st Street?

The registration fee for property in Stephenson 1st Street is calculated at 2% of the guideline value. For example, for a property valued at Rs 43,00,000, the registration fee would be Rs 86,000.

Where can I find the Sub Registrar Office for Stephenson 1st Street?

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