Guideline Value for A.K.SWAMY 7TH STREET

A.K.Swamy 7th Street guideline value

The current guideline value of A.K.Swamy 7th 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 7th Street has changed

Over the years, the guideline value of A.K.Swamy 7th Street has seen several revisions. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in the 2012 revision. However, the value then dropped to Rs 4,690 per sq.ft in 2017. The 2023 revision raised it to Rs 7,000 per sq.ft, and the most recent 2024 revision has set it at Rs 7,700 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, followed by a 10% rise from 2023 to 2024. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period recorded a substantial increase of 289%. Overall, from 2007 to 2024, the guideline value has increased by 328%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that have 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 7th Street's 2024 figure is above this median.

• A.K.Swamy 6th Street: Rs 7,700 per sq.ft (2024)
• A.K.Swamy 8th Street: Rs 7,700 per sq.ft (2024)
• A.K.Swamy 5th Street: Rs 7,700 per sq.ft (2024)
• A.K.Swamy 9th Street: Rs 7,700 per sq.ft (2024)
• A.K.Swamy 4th Street: Rs 7,700 per sq.ft (2024)
• A.K.Swamy 9th Street 1st Lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in A.K.Swamy 7th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, making the total 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers A.K.Swamy 7th Street?

The Sub Registrar Office covering A.K.Swamy 7th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of A.K.Swamy 7th Street?

The current guideline value of A.K.Swamy 7th 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 1,800 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 328% over the years.

What is the land classification for A.K.Swamy 7th Street?

A.K.Swamy 7th Street is classified as Residential Class II Type - I.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for A.K.Swamy 7th Street?

The Sub Registrar Office for A.K.Swamy 7th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.