Guideline Value for EDWARD PARK STREET

Edward Park Street guideline value

The current guideline value of Edward Park Street is Rs 4,400 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 IV Type - I.

How the guideline value of Edward Park Street has changed

Over the years, the guideline value of Edward Park Street has experienced several revisions. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value rose to Rs 4,000 per sq.ft in 2023, and most recently, the 2024 revision has set the value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was a substantial 264%. Overall, from 2007 to 2024, the guideline value has increased by 300%. 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 have a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, making Edward Park Street's 2024 figure below that median.

• East Mada Veedhi: Rs 2,700 per sq.ft (2024)
• Emi Street: Rs 4,900 per sq.ft (2024)
• Erron Street: Rs 5,500 per sq.ft (2024)
• E.S.I. Hospital Staff Quarters: Rs 2,200 per sq.ft (2024)
• Ethiraj Garden Lane: Rs 4,900 per sq.ft (2024)
• Ethiraj Garden Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Edward Park Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that 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 Edward Park Street?

Edward Park Street falls under the jurisdiction of 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 during property registration in Purasaivakkam. It determines the minimum value at which a property can be registered, ensuring that transactions are conducted at a fair value as per government standards.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, making it essential to understand the current guideline values in the area.

Frequently asked questions

What is the current guideline value of Edward Park Street?

The current guideline value of Edward Park Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 300% over the years.

What are the stamp duty and registration fees for property in Edward Park Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Edward Park Street?

Edward Park Street is covered by the Purasaivakkam Sub Registrar Office, 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, which means Edward Park Street's current value is below this median.