Guideline Value for BRICKLINE 5TH STREET

Brickline 5th Street guideline value

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

How the guideline value of Brickline 5th Street has changed

The guideline value for Brickline 5th Street 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, it decreased to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. The changes between these revisions are as follows: from 2007 to 2012, there was an increase of 178%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%.

The overall increase from the 2007 revision to the current 2024 revision is 206%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

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 equal to the current guideline value of Brickline 5th Street.

• Brickline 5th Lane: Rs 5,500 per sq.ft (2024)
• Brickline 6th Lane: Rs 5,500 per sq.ft (2024)
• Brickline 4th Lane: Rs 5,500 per sq.ft (2024)
• Bricklin Road (Otteri Bridge To Before Tvh Square): Rs 7,100 per sq.ft (2024)
• Brickline 3rd Lane: Rs 5,500 per sq.ft (2024)
• Bricklin Road P.H.Road To Tvh Square: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in Brickline 5th Street

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, 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 or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Brickline 5th Street?

The Sub Registrar Office that covers Brickline 5th Street 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 critical component in the registration process for property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling of property.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the government receives the correct amount based on the property's value as per the latest revisions. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

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

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

What is the land classification for Brickline 5th Street?

Brickline 5th Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% on the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value.

Where is the Sub Registrar Office for Brickline 5th Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers Brickline 5th Street.