Guideline Value for FLOWERS ROAD

Flowers Road guideline value

The current guideline value of Flowers Road, located in Purasaivakkam village under the Purasaivakkam SRO, is Rs 8,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Flowers Road has changed

The guideline value for Flowers Road has undergone several revisions over the years. The 2007 revision set the value at Rs 7,000 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012. However, this figure decreased by 33% to Rs 5,360 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 8,000 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 8,800 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 26%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value across these streets is Rs 5,500 per sq.ft, placing Flowers Road's 2024 figure above this median.

• Flowers Road 1st Lane: Rs 7,100 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

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty charged at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees to Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Flowers Road?

The Sub Registrar Office covering Flowers 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 plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Flowers Road?

The current guideline value of Flowers Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 26% over the years.

What is the land classification for Flowers Road?

Flowers Road is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Flowers Road?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 7,92,000.