Guideline Value for Sakthi Vinayagar Koil Street

Sakthi Vinayagar Koil Street guideline value

The current guideline value of Sakthi Vinayagar Koil Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Sakthi Vinayagar Koil Street has changed

The guideline value for Sakthi Vinayagar Koil Street has undergone several revisions over the years. In 2002, the value was Rs 401 per sq.ft, which increased to Rs 437 per sq.ft in 2003. Following that, the value saw a significant rise to Rs 800 per sq.ft in 2007, and then it jumped to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,301 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2024, the overall increase is +723%. The most significant change occurred between 2007 and 2012, with a rise of +275%. The most recent change from 2023 to 2024 is an increase of +10%. Other changes include a +49% rise from 2017 to 2023, and a -33% decrease from 2012 to 2017.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value is Rs 3,301 per sq.ft, which is the same as the current value for Sakthi Vinayagar Koil Street.

• Sakthivel Salai: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar Main Road: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 8th Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 7th Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 6th Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 6th Cross Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total cost together to Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Vinayagar Koil Street?

The Sub Registrar Office that covers Sakthi Vinayagar Koil Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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 minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for all property transactions.

When a buyer and seller agree on a sale price, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the state government receives the appropriate revenue from property transactions, reflecting the property's value in the market.

Frequently asked questions

What is the current guideline value of Sakthi Vinayagar Koil Street?

The current guideline value of Sakthi Vinayagar Koil Street is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 401 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024. The most significant increase occurred between 2007 and 2012, with a rise of +275%.

What is the land classification for Sakthi Vinayagar Koil Street?

Sakthi Vinayagar Koil Street is classified as Residential Special Type - II, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total cost would be Rs 2,97,090.

Where is the Sub Registrar Office located for this street?

The Sembiam Sub Registrar Office, which covers Sakthi Vinayagar Koil Street, is located at 5, Papermills Road, Sembiam, Chennai - 600011.