Guideline Value for FLOWERS ROAD 1ST LANE

Flowers Road 1st Lane guideline value

The current guideline value of Flowers Road 1st Lane is Rs 7,100 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 II Type - III.

How the guideline value of Flowers Road 1st Lane has changed

The guideline value for Flowers Road 1st Lane has seen several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 4,355 per sq.ft. The 2023 revision then marked a substantial increase to Rs 6,500 per sq.ft, followed by the latest 2024 revision, which raised it to Rs 7,100 per sq.ft. The register has no figure for the years 2002 and 2003.

From 2007 to 2012, the value increased by 261%, but then it decreased by 33% from 2012 to 2017. The value saw a significant rise of 49% from 2017 to 2023. The overall change from 2007 to 2024 is an increase of 294%, reflecting the evolving real estate landscape in this area.

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 for Flowers Road 1st Lane is above this median.

• Flowers Road: Rs 8,800 per sq.ft (2024)
• Flowers Road 2nd Lane: Rs 7,100 per sq.ft (2024)
• Flowers Road 3rd Lane: Rs 7,100 per sq.ft (2024)
• Flowers Road 4th Lane: Rs 7,100 per sq.ft (2024)
• Gajapathy Road: Rs 7,700 per sq.ft (2024)
• E.V.R.Periyar Lane (A) Poonamalle High Road Lane: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Flowers Road 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Flowers Road 1st Lane?

The Sub Registrar Office that covers Flowers Road 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions within Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the fees are based on a standardized valuation, which is vital for maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Flowers Road 1st Lane?

The current guideline value of Flowers Road 1st Lane is Rs 7,100 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 7,100 per sq.ft in 2024, reflecting an overall increase of 294% over the years.

What is the land classification for Flowers Road 1st Lane?

Flowers Road 1st Lane is classified as Residential Class II Type - III.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office covering Flowers Road 1st Lane is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.