Guideline Value for CORRAN SMITH NAGAR MAIN ROAD

Corran Smith Nagar Main Road guideline value

The current guideline value of Corran Smith Nagar Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This road is located in Purasaivakkam village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Corran Smith Nagar Main Road has changed

The guideline value for Corran Smith Nagar Main Road has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 650 per sq.ft. This amount increased significantly to Rs 2,500 per sq.ft in 2012, followed by a decrease to Rs 1,675 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 315%. The register has no figures 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, with a median value of Rs 5,500 per sq.ft. The guideline value of Corran Smith Nagar Main Road is below this median.

• Corran Smith Nagar: Rs 2,700 per sq.ft (2024)
• Corran Smith 5th Street: Rs 2,700 per sq.ft (2024)
• Corran Smith 4th Street: Rs 2,700 per sq.ft (2024)
• Corran Smith 3rd Street: 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 Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Corran Smith Nagar Main Road?

The Sub Registrar Office that covers Corran Smith Nagar Main Road 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 is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value or the sale price, whichever is higher, is taken into account for calculating these fees. This ensures that the transaction is recorded accurately in the official records.

Frequently asked questions

What is the current guideline value of Corran Smith Nagar Main Road?

The current guideline value of Corran Smith Nagar Main Road 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, representing an overall increase of 315% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at 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, totaling Rs 2,43,000.

Which office handles property registrations in Purasaivakkam?

The Purasaivakkam Sub Registrar Office handles property registrations in Purasaivakkam, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, while the guideline value for Corran Smith Nagar Main Road is below this median.