Guideline Value for NEW STREET 4TH LANE

New Street 4th Lane guideline value

The current guideline value of New Street 4th Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of New Street 4th Lane has changed

The guideline value for New Street 4th Lane has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The 2017 revision brought the value back up to Rs 5,000 per sq.ft in 2023, with a notable increase of 49%. The current revision in 2024 has set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

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, which is equal to the guideline value of New Street 4th Lane.

• New Street 5th Lane: Rs 5,500 per sq.ft (2024)
• New Street 3rd Lane: Rs 5,500 per sq.ft (2024)
• New Street 2nd Lane: Rs 5,500 per sq.ft (2024)
• New Street 1st Lane: Rs 5,500 per sq.ft (2024)
• New Street: Rs 5,500 per sq.ft (2024)
• New Secretariat Colony: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in New Street 4th Lane

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value is Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Street 4th Lane?

The Sub Registrar Office that covers New Street 4th 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 an essential reference for property transactions in Purasaivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. It is crucial for buyers and sellers to be aware of this value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of New Street 4th Lane?

The current guideline value of New Street 4th Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

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

For a property valued at Rs 5,500 per sq.ft, the total stamp duty and registration fees would amount to Rs 4,95,000 for a 1,000 sq.ft plot.

Which office handles property registrations for New Street 4th Lane?

The Purasaivakkam Sub Registrar Office handles property registrations for New Street 4th Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

Where can I find more information about the guideline values in Purasaivakkam?

More information about the guideline values in Purasaivakkam can be found in the Registration Department's guideline value register (TNReginet).