Guideline Value for HENRIK LANE

Henrik Lane guideline value

The current guideline value of Henrik Lane, located in Purasaivakkam village, is Rs 4,900 per sq.ft, effective from 1 July 2024. This street falls under the Purasaivakkam SRO and is classified as Residential Class III Type - II.

How the guideline value of Henrik Lane has changed

Over the years, the guideline value of Henrik Lane has seen significant changes. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012, marking a substantial rise of 150%. However, the value then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The following revision in 2023 brought the value back up to Rs 4,500 per sq.ft, and the most recent revision in 2024 has set it at Rs 4,900 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for Henrik Lane in the 2002 and 2003 revisions. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 172%.

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 guideline value for these streets is Rs 5,500 per sq.ft, placing Henrik Lane's current value below this median.

• Harley's Street & Road: Rs 10,800 per sq.ft (2024)
• Hospital Lane: Rs 4,900 per sq.ft (2024)
• Hunters Lane: Rs 9,900 per sq.ft (2024)
• Hunters Road (A) Thirunarayana Guru Road: Rs 12,100 per sq.ft (2024)
• Hanumantharayan Koil Street: Rs 4,400 per sq.ft (2024)
• Hanumantharayan Koil 1st Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Henrik Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, calculated at 7%, would be Rs 3,43,000, while the registration fee at 2% would amount to Rs 98,000. Therefore, the total cost for stamp duty and registration fees would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Henrik Lane?

Henrik Lane is covered by 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 in Purasaivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions as set by the registration department.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This means that buyers should be aware of the guideline value to accurately estimate the total costs involved in the property transaction.

Frequently asked questions

What is the current guideline value of Henrik Lane?

The current guideline value of Henrik Lane is Rs 4,900 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 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 172% over the years.

What is the land classification of Henrik Lane?

Henrik Lane is classified as Residential Class III Type - II, indicating its suitability for residential purposes.

Where is the Purasaivakkam Sub Registrar Office located?

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

How is stamp duty calculated for properties in Henrik 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 49,00,000 would incur a stamp duty of Rs 3,43,000.