Guideline Value for CORRAN SMITH 5TH STREET

Corran Smith 5th Street guideline value

The current guideline value of Corran Smith 5th Street is Rs 2,700 per sq.ft. 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 5th Street has changed

The guideline value for Corran Smith 5th 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. However, it then decreased to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft from the 2024 revision, effective from 1 July 2024.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 8%. The overall change from 2007 to 2024 is an increase of 315%. The register has no figure for this street in 2002 and 2003.

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, placing Corran Smith 5th Street's 2024 figure below that median.

• Corran Smith 4th Street: Rs 2,700 per sq.ft (2024)
• Corran Smith Nagar: Rs 2,700 per sq.ft (2024)
• Corran Smith 3rd Street: Rs 2,700 per sq.ft (2024)
• Corran Smith Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Corran Smith 2nd Street: Rs 2,700 per sq.ft (2024)
• Corran Smith 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Corran Smith 5th 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 be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total cost of Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Corran Smith 5th Street?

The Sub Registrar Office that covers Corran Smith 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 factor in the registration of property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

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

Frequently asked questions

What is the current guideline value of Corran Smith 5th Street?

The current guideline value of Corran Smith 5th 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, showing an overall increase of 315% over this period.

What is the land classification of Corran Smith 5th Street?

Corran Smith 5th Street is classified as Residential Class V Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Corran Smith 5th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Corran Smith 5th Street?

Stamp duty for properties in Corran Smith 5th Street is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,89,000.