Guideline Value for CORRAN SMITH 3RD STREET

Corran Smith 3rd Street guideline value

The current guideline value of Corran Smith 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class V Type - III.

How the guideline value of Corran Smith 3rd Street has changed

The guideline value for Corran Smith 3rd Street has seen several revisions over the years. In 2007, the value was Rs 650 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 285%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, showing an increase of 49%. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 315%.

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 a median value of Rs 5,500 per sq.ft. The guideline value of Corran Smith 3rd Street is below this median.

• Corran Smith 1st Street: Rs 2,700 per sq.ft (2024)
• Corran Smith 2nd Street: Rs 2,700 per sq.ft (2024)
• Corran Smith 4th Street: Rs 2,700 per sq.ft (2024)
• Corran Smith 5th Street: Rs 2,700 per sq.ft (2024)
• Corran Smith Nagar: Rs 2,700 per sq.ft (2024)
• Corran Smith Nagar Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Corran Smith 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Corran Smith 3rd Street?

The Sub Registrar Office that covers Corran Smith 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Purasaivakkam

The guideline value plays a crucial role in property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Corran Smith 3rd Street?

The current guideline value of Corran Smith 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 315% over the years.

What is the land classification for Corran Smith 3rd Street?

The land classification for Corran Smith 3rd Street is Residential Class V Type - III.

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 Corran Smith 3rd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.