Guideline Value for St. Mary's Road

St. Mary's Road guideline value

The current guideline value of St. Mary's Road in Sembiam village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Sembiam Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of St. Mary's Road has changed

The guideline value for St. Mary's Road has undergone several revisions over the years. In 2002, the value was Rs 251 per sq.ft, which increased to Rs 272 per sq.ft in 2003. This was followed by a significant rise to Rs 700 per sq.ft in 2007, and then a further increase to Rs 2,500 per sq.ft in 2012. However, the value decreased to Rs 1,675 per sq.ft in 2017, before rising again to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 2,700 per sq.ft.

Between these revisions, the changes were notable. From 2002 to 2003, there was an increase of 8%. The value surged by 157% from 2003 to 2007, followed by a remarkable 257% increase from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally rose by 8% from 2023 to 2024. Overall, the guideline value has increased by 976% from 2002 to 2024.

Guideline values in Sembiam

Sembiam village has 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of St. Mary's Road.

• State Bank Colony: Rs 2,700 per sq.ft (2024)
• Subramaniya Thottam: Rs 2,700 per sq.ft (2024)
• Sudukattu Street: Rs 2,700 per sq.ft (2024)
• Srinivasa Raghavan Street: Rs 2,700 per sq.ft (2024)
• Telephone Colony: Rs 2,700 per sq.ft (2024)
• Thanigachalam Mudali Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in St. Mary's Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers St. Mary's Road?

The Sub Registrar Office that covers St. Mary's Road 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 Sembiam

The guideline value plays a crucial role in property transactions in Sembiam. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the fees are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property dealings in the area.

Frequently asked questions

What is the current guideline value of St. Mary's Road?

The current guideline value of St. Mary's Road 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 from Rs 251 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 976% over this period.

What is the land classification of St. Mary's Road?

St. Mary's Road is classified as Residential Class I Type - I according to the Sembiam SRO guidelines.

What are the stamp duty and registration fees for properties on St. Mary's Road?

The stamp duty is calculated at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Where is the Sub Registrar Office for St. Mary's Road located?

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