Guideline Value for HANUMANTHARAYAN KOIL 1ST LANE

Hanumantharayan Koil 1st Lane guideline value

The current guideline value of Hanumantharayan Koil 1st Lane 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 Hanumantharayan Koil 1st Lane has changed

The guideline value for Hanumantharayan Koil 1st Lane has seen several revisions over the years. The earliest available figure is from 2007, which was Rs 1,100 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 264% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, reflecting a drop of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and most recently to Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%, showing the fluctuations over the years.

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 value for these streets is Rs 5,500 per sq.ft, placing Hanumantharayan Koil 1st Lane's 2024 figure below that median.

• Hanumantharayan Koil Street: Rs 4,400 per sq.ft (2024)
• Haji Mohammed Abdul Hafeez Abbab Sahib Street: Rs 4,900 per sq.ft (2024)
• Harley's Street & Road: Rs 10,800 per sq.ft (2024)
• Henrik Lane: Rs 4,900 per sq.ft (2024)
• Grama Street: Rs 5,500 per sq.ft (2024)
• Hospital Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Hanumantharayan Koil 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hanumantharayan Koil 1st Lane?

The Sub Registrar Office that covers Hanumantharayan Koil 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 information.

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

The guideline value plays a crucial role in the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, thereby influencing the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reducing the chances of undervaluation. This helps maintain transparency and consistency in real estate dealings within the region.

Frequently asked questions

What is the current guideline value of Hanumantharayan Koil 1st Lane?

The current guideline value of Hanumantharayan Koil 1st Lane 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, from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 300% over the years.

What is the land classification for Hanumantharayan Koil 1st Lane?

Hanumantharayan Koil 1st Lane is classified as Residential Class IV Type - I, indicating its designation for residential use.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it handles registrations for properties in this area.

How is stamp duty calculated for properties in Hanumantharayan Koil 1st Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000.