Guideline Value for ALEXANDER LANES

Alexander Lanes guideline value

The current guideline value of Alexander Lanes is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO and is classified as Residential Class II Type - II.

How the guideline value of Alexander Lanes has changed

The guideline value for Alexander Lanes has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. Following that, the value rose to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,800 per sq.ft as of the 2024 revision. The register has no figures for this street for the years 2002 and 2003.

Between the revisions, the changes are notable. From 2007 to 2012, the value increased by 483%, but then decreased by 33% from 2012 to 2017. The value saw a significant increase of 49% from 2017 to 2023, and then a further increase of 9% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 533%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Alexander Lanes is above this median.

• Alexander Cross Street: Rs 3,800 per sq.ft (2024)
• Alexander Street: Rs 3,800 per sq.ft (2024)
• Ambedkar Road (A) Gantz Road: Rs 5,500 per sq.ft (2024)
• Ambedkar Street: Rs 2,700 per sq.ft (2024)
• Ammaiyi Ammal Lane: Rs 3,800 per sq.ft (2024)
• Amman Koil 1st Lane: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Alexander Lanes

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Alexander Lanes?

The Sub Registrar Office that covers Alexander Lanes 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 Perambur

The guideline value is a crucial factor in property transactions in Perambur. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to accurately assess their transaction costs.

When registering a property, the guideline value serves as a benchmark for calculating the stamp duty and registration fees. It is essential to ensure that the sale price is not lower than the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Alexander Lanes?

The current guideline value of Alexander Lanes is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 533% over the years.

What are the stamp duty and registration fees for property in Alexander Lanes?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office is responsible for Alexander Lanes?

The Purasaivakkam Sub Registrar Office covers Alexander Lanes, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Alexander Lanes?

Alexander Lanes is classified as Residential Class II Type - II under the current guidelines.