Guideline Value for BRICKLINE 1ST LANE

Brickline 1st Lane guideline value

The current guideline value of Brickline 1st Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Brickline 1st Lane has changed

The guideline value for Brickline 1st Lane has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,800 per sq.ft. This figure increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, the value dropped to Rs 3,350 per sq.ft in 2017, reflecting a decrease of 33%. Following this, the guideline value surged to Rs 5,000 per sq.ft in 2023, an increase of 49%, and further rose to Rs 5,500 per sq.ft in 2024, a 10% increase.

It is important to note that there are no recorded figures for Brickline 1st Lane in the revisions for 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 206%.

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 guideline value is Rs 5,500 per sq.ft, which is the same as the current value for Brickline 1st Lane.

• Brickline 2nd Lane: Rs 5,500 per sq.ft (2024)
• Brickline 3rd Lane: Rs 5,500 per sq.ft (2024)
• Brickline 4th Lane: Rs 5,500 per sq.ft (2024)
• Brickline 5th Lane: Rs 5,500 per sq.ft (2024)
• Brickline 5th Street: Rs 5,500 per sq.ft (2024)
• Brickline 6th Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Brickline 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Brickline 1st Lane?

The Sub Registrar Office that covers Brickline 1st Lane 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 an important factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees based on this value.

Frequently asked questions

What is the current guideline value of Brickline 1st Lane?

The current guideline value of Brickline 1st Lane is Rs 5,500 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 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What are the stamp duty and registration fees for properties in Brickline 1st Lane?

For a 1,000 sq.ft property, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000 based on the current guideline value.

Which office handles property registrations in Purasaivakkam?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles property registrations in Purasaivakkam.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and recent market trends in the area.