Guideline Value for A.K.SWAMY 3RD STREET

A.K.Swamy 3rd Street guideline value

The current guideline value of A.K.Swamy 3rd Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of A.K.Swamy 3rd Street has changed

The guideline value of A.K.Swamy 3rd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 2,600 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, it then decreased to Rs 4,690 per sq.ft in 2017. The value rose again to Rs 7,000 per sq.ft in 2023, and currently stands at Rs 7,700 per sq.ft from the 2024 revision. There are no figures available for the revisions in 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the value saw a decrease of 33% from 2012 to 2017. The increase from 2007 to 2012 was substantial at 169%. Overall, from 2007 to 2024, the guideline value has increased by 196%.

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, with a median value of Rs 5,500 per sq.ft. A.K.Swamy 3rd Street's 2024 guideline value is above this median.

• A.K.SWAMY 2nd STREET: Rs 7,700 per sq.ft (2024)
• A.K.Swamy 4th Street: Rs 7,700 per sq.ft (2024)
• A.K.SWAMY 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. 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 A.K.Swamy 3rd Street?

The Sub Registrar Office that covers A.K.Swamy 3rd Street is 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 the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. This value is used to calculate the stamp duty and registration fees, which are essential components of the property transaction process.

Frequently asked questions

What is the current guideline value of A.K.Swamy 3rd Street?

The current guideline value of A.K.Swamy 3rd 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 from Rs 2,600 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 196% over this period.

What is the land classification for A.K.Swamy 3rd Street?

A.K.Swamy 3rd Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for A.K.Swamy 3rd Street?

The Sub Registrar Office for A.K.Swamy 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for property transactions?

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