Guideline Value for KELLY'S LANE

Kelly's Lane guideline value

The current guideline value of Kelly's Lane is Rs 6,500 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 II Type - II.

How the guideline value of Kelly's Lane has changed

Over the years, the guideline value of Kelly's Lane has seen several revisions. The earliest recorded figure is from 2007, at Rs 2,800 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in 2012, but then decreased to Rs 4,020 per sq.ft in 2017. The guideline value rose again to Rs 6,000 per sq.ft in 2023, and currently stands at Rs 6,500 per sq.ft as of the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the increase was 49%. The change from 2012 to 2017 was a decrease of 33%, while the jump from 2007 to 2012 was a notable 114%. Overall, from 2007 to 2024, the guideline value has increased by 132%. 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 with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, making Kelly's Lane's 2024 figure above the median.

• Kelly Lane: Rs 6,500 per sq.ft (2024)
• Kelly's Road: Rs 8,800 per sq.ft (2024)
• Kesava Naidu Street: Rs 4,400 per sq.ft (2024)
• Kilpauk Garden 1st Cross Street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 2nd Cross Street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 2nd Lane: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kelly's Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, bringing the total to Rs 5,85,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kelly's Lane?

The Sub Registrar Office that covers Kelly's 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 is a crucial figure used during property registration in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property transaction occurs, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kelly's Lane?

The current guideline value of Kelly's Lane is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, with various fluctuations in between.

What are the other streets with guideline values in Purasaivakkam?

Other streets in Purasaivakkam include Kelly Lane at Rs 6,500, Kelly's Road at Rs 8,800, Kesava Naidu Street at Rs 4,400, and several streets in Kilpauk Garden ranging from Rs 13,400.

What are the stamp duty and registration fees for a property in Kelly's Lane?

The stamp duty for a property in Kelly's Lane is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 5,85,000.

Where can I find the Sub Registrar Office for Kelly's Lane?

The Sub Registrar Office for Kelly's Lane is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find more information about it online.