Guideline Value for BRICKLINE 5TH LANE

Brickline 5th Lane guideline value

The current guideline value of Brickline 5th 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 5th Lane has changed

Since the 2007 revision, the guideline value for Brickline 5th Lane has seen significant changes. In 2007, the value was Rs 1,800 per sq.ft. It increased 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 finally, it reached Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 206%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with a 2024 guideline value range from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, which is equal to the guideline value of Brickline 5th Lane.

• Brickline 4th Lane: Rs 5,500 per sq.ft (2024)
• Brickline 5th Street: Rs 5,500 per sq.ft (2024)
• Brickline 3rd Lane: Rs 5,500 per sq.ft (2024)
• Brickline 6th Lane: Rs 5,500 per sq.ft (2024)
• Brickline 2nd Lane: Rs 5,500 per sq.ft (2024)
• Bricklin Road (Otteri Bridge To Before Tvh Square): Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Brickline 5th 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 be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Brickline 5th Lane?

The Sub Registrar Office that covers Brickline 5th 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 the registration process when buying or selling property in Purasaivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Brickline 5th Lane?

The current guideline value of Brickline 5th 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, showing an overall increase of 206% over the years.

What is the land classification for Brickline 5th Lane?

Brickline 5th Lane is classified as Residential Class III Type - I.

Where can I find the Purasaivakkam Sub Registrar Office?

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

How is stamp duty calculated for properties in Brickline 5th Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.