Guideline Value for PATEL ROAD LANE

Patel Road Lane guideline value

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

How the guideline value of Patel Road Lane has changed

Since the 2007 revision, the guideline value of Patel Road Lane has seen significant changes. In 2007, the value was Rs 800 per sq.ft, which increased to Rs 4,500 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 saw a further increase to Rs 4,900 per sq.ft, reflecting a 9% rise from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2017 for this street. The overall increase from the 2007 revision to the 2024 revision is a substantial 513%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Patel Road Lane is above this median, indicating its relatively higher valuation.

• Patel Road 2nd Street: Rs 4,900 per sq.ft (2024)
• Patel Road 1st Cross Street: Rs 4,900 per sq.ft (2024)
• Patel Road: Rs 6,500 per sq.ft (2024)
• Pattinathar Street: Rs 2,700 per sq.ft (2024)
• Parthasarathy Naidu Street: Rs 2,200 per sq.ft (2024)
• Parthasarathy Nagar: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Patel Road Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to 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.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Patel Road Lane?

The Sub Registrar Office that covers Patel Road 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 Perambur

The guideline value is a crucial factor in the registration process of property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that are payable when a property is bought or sold.

When you register a property, the guideline value will be assessed to calculate the applicable fees. It is essential to be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Patel Road Lane?

The current guideline value of Patel Road Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 513%.

What are the registration fees for properties in Patel Road Lane?

The registration fees include a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Which office handles property registrations for Patel Road Lane?

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

What is the range of guideline values in Perambur?

The guideline values in Perambur range from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft.