Guideline Value for Sambasiva Reddy Street

Sambasiva Reddy Street guideline value

The current guideline value of Sambasiva Reddy Street in Peravallur village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sambasiva Reddy Street has changed

Over the years, the guideline value of Sambasiva Reddy Street has seen significant changes. In 2002, the guideline value was Rs 325 per sq.ft. This figure increased to Rs 354 per sq.ft in 2003, marking a 9% rise. The value then surged to Rs 700 per sq.ft in 2007, reflecting a substantial increase of 98%. Following this, the value jumped to Rs 2,500 per sq.ft in 2012, which was a remarkable 257% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, with an increase of 49%, before reaching the current value of Rs 2,700 per sq.ft in 2024, which is an 8% increase.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 represents an increase of 731% in the guideline value for Sambasiva Reddy 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. Sambasiva Reddy Street's 2024 guideline value is below this median.

• Sakthi Vinayagar Koil Street: Rs 3,301 per sq.ft (2024)
• 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)
• Samundeeswari Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Sambasiva Reddy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that 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 information.

Which Sub Registrar Office covers Sambasiva Reddy Street?

The Sub Registrar Office that covers Sambasiva Reddy Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers should be aware that the guideline value affects the amount of stamp duty and registration fees payable during the transaction.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sambasiva Reddy Street?

The current guideline value of Sambasiva Reddy Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 325 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, which is an overall increase of 731%.

What is the land classification for Sambasiva Reddy Street?

The land classification for Sambasiva Reddy Street is Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Sambasiva Reddy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,89,000.