Guideline Value for Sundararaja Perumal Colony 2nd Street

Sundararaja Perumal Colony 2nd Street guideline value

The current guideline value for Sundararaja Perumal Colony 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO, classified as Commercial Special Type - IV.

How the guideline value of Sundararaja Perumal Colony 2nd Street has changed

The guideline value for Sundararaja Perumal Colony 2nd Street has seen several revisions over the years. The earliest recorded value was Rs 448 per sq.ft in 2002, which increased to Rs 488 per sq.ft in 2003, marking a 9% rise. In 2007, the value surged to Rs 1,000 per sq.ft, representing a significant increase of 105%. The next revision in 2012 saw the value drop to Rs 4,000 per sq.ft, a decrease of 300% from the previous figure. However, the value rose again to Rs 2,680 per sq.ft in 2017, reflecting a 49% increase. The most recent revision in 2023 set the value at Rs 4,000 per sq.ft, which then increased to the current rate of Rs 4,400 per sq.ft in 2024, a 10% rise.

There are no figures available for the revisions in years other than those mentioned. The overall change from 2002 to 2024 shows an increase of 882% in the guideline value for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, placing Sundararaja Perumal Colony 2nd Street's current guideline value above this median.

• Sundararaja Perumal Colony 1st Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 15th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 4th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 14th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sundararaja Perumal Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundararaja Perumal Colony 2nd Street?

The Sub Registrar Office that covers Sundararaja Perumal Colony 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Sundararaja Perumal Colony 2nd Street?

The current guideline value for Sundararaja Perumal Colony 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 448 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 882%.

What is the classification of land in Sundararaja Perumal Colony 2nd Street?

The land classification for Sundararaja Perumal Colony 2nd Street is Commercial Special Type - IV.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sundararaja Perumal Colony 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 3,08,000.