Guideline Value for Secretariate Colony

Secretariate Colony guideline value

The current guideline value of Secretariate Colony in Perungalathur village is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Padappai Sub Registrar Office and is classified as Residential Class IV Type - II.

How the guideline value of Secretariate Colony has changed

Over the years, the guideline value of Secretariate Colony has seen several revisions. The earliest recorded revision was in 2007, with a guideline value of Rs 460 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, but then decreased to Rs 1,005 per sq.ft in 2017. The value rose again to Rs 1,500 per sq.ft in 2023 and finally reached Rs 1,650 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 226% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The latest increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 259%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of Secretariate Colony is below this median.

• School Street: Rs 1,650 per sq.ft (2024)
• Sekar Apartments: Rs 2,310 per sq.ft (2024)
• Sekar Theru: Rs 2,310 per sq.ft (2024)
• Selliyamman Koil Street: Rs 1,980 per sq.ft (2024)
• Sayilakshmi Theru: Rs 1,650 per sq.ft (2024)
• Selva Vinayakar Koli Street: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Secretariate Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Secretariate Colony?

The Sub Registrar Office that covers Secretariate Colony is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable duties. Buyers and sellers must consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Secretariate Colony?

The current guideline value of Secretariate Colony is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 460 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, with various increases and decreases in between. The most recent increase was 10% from 2023 to 2024.

What is the land classification for Secretariate Colony?

Secretariate Colony is classified as Residential Class IV Type - II, which is relevant for determining its usage and value.

What are the other streets in Perungalathur with their guideline values?

Other streets in Perungalathur include School Street at Rs 1,650 per sq.ft, Sekar Apartments and Sekar Theru both at Rs 2,310 per sq.ft, and others with varying values as listed previously.

Where can I find the Sub Registrar Office for Secretariate Colony?

The Sub Registrar Office for Secretariate Colony is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.