Guideline Value for A.K.SWAMY 2nd STREET

A.K.SWAMY 2nd STREET guideline value

The current guideline value of A.K.SWAMY 2nd STREET is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class II Type - I.

How the guideline value of A.K.SWAMY 2nd STREET has changed

The guideline value for A.K.SWAMY 2nd STREET has seen several revisions over the years. In 2007, the value was Rs 2,600 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, there was a decrease to Rs 4,690 per sq.ft in 2017. The value then rose to Rs 7,000 per sq.ft in 2023, and currently stands at Rs 7,700 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 196%, reflecting significant changes over the years.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, placing A.K.SWAMY 2nd STREET above this median at Rs 7,700 per sq.ft.

• A.K.SWAMY 1st STREET: Rs 7,700 per sq.ft (2024)
• A.K.SWAMY 3rd STREET: Rs 7,700 per sq.ft (2024)
• A.K.SWAMY 4th STREET: Rs 7,700 per sq.ft (2024)
• A.K.SWAMY 5th STREET: Rs 7,700 per sq.ft (2024)
• A.K.SWAMY 6th STREET: Rs 7,700 per sq.ft (2024)
• A.K.SWAMY 7th STREET: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in A.K.SWAMY 2nd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers A.K.SWAMY 2nd STREET?

A.K.SWAMY 2nd STREET falls under the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, buyers and sellers must ensure that the sale price meets or exceeds the guideline value to avoid any complications. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of A.K.SWAMY 2nd STREET?

The current guideline value of A.K.SWAMY 2nd STREET is Rs 7,700 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 2,600 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, with various fluctuations in between.

What is the land classification of A.K.SWAMY 2nd STREET?

A.K.SWAMY 2nd STREET is classified as Residential Class II Type - I.

Where can I find the registration office for A.K.SWAMY 2nd STREET?

The registration office for A.K.SWAMY 2nd STREET is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in A.K.SWAMY 2nd STREET?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at a rate of 7%.