Guideline Value for BRICKLINE 3RD LANE

Brickline 3rd Lane guideline value

The current guideline value of Brickline 3rd 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 3rd Lane has changed

The guideline value for Brickline 3rd Lane has seen several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this value decreased to Rs 3,350 per sq.ft in 2017. The value then rose sharply to Rs 5,000 per sq.ft in 2023, and finally, it has been set at Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 206%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO with 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 equal to the 2024 figure for Brickline 3rd Lane.

• Brickline 2nd Lane: Rs 5,500 per sq.ft (2024)
• Brickline 4th Lane: Rs 5,500 per sq.ft (2024)
• Brickline 1st 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 3rd 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, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of 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.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Brickline 3rd Lane?

The Sub Registrar Office that covers Brickline 3rd 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 a crucial factor in property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property. The guideline value serves as a benchmark for assessing the value of the property during registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used for calculating 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 3rd Lane?

The current guideline value of Brickline 3rd 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 these years.

What are the stamp duty and registration fees for properties in Brickline 3rd Lane?

For a 1,000 sq.ft property, the total guideline value is Rs 55,00,000, leading to a stamp duty of Rs 3,85,000 and a registration fee of Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Brickline 3rd Lane?

The Purasaivakkam Sub Registrar Office covers Brickline 3rd Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It is used to assess the value of the property for registration purposes.