Guideline Value for BRICKLINE 2ND LANE

Brickline 2nd Lane guideline value

The current guideline value of Brickline 2nd Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Brickline 2nd Lane has changed

The guideline value of Brickline 2nd Lane has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and most recently to Rs 5,500 per sq.ft in 2024, reflecting an increase of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. 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, with the median being Rs 5,500 per sq.ft. The guideline value of Brickline 2nd Lane matches this median.

• Brickline 1st 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 2nd 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 to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Brickline 2nd Lane?

The Sub Registrar Office that covers Brickline 2nd Lane 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 is a crucial factor in the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of properties.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Brickline 2nd Lane?

The current guideline value of Brickline 2nd 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 a total increase of 206% over the years.

What are the other streets in Purasaivakkam with the same guideline value?

Other streets in Purasaivakkam with the same guideline value of Rs 5,500 per sq.ft include Brickline 1st Lane, Brickline 3rd Lane, Brickline 4th Lane, Brickline 5th Lane, Brickline 5th Street, and Brickline 6th Lane.

What is the registration fee for properties in Brickline 2nd Lane?

The registration fee for properties in Brickline 2nd Lane is calculated at 2% of the guideline value, which is Rs 1,10,000 for a 1,000 sq.ft plot at the current rate.

Where can I find the Sub Registrar Office for Brickline 2nd Lane?

The Sub Registrar Office for Brickline 2nd Lane is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find more information about your SRO through the provided link.