Guideline Value for PENSIONER LANE

Pensioner Lane guideline value

The current guideline value of Pensioner Lane is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class IV Type - II.

How the guideline value of Pensioner Lane has changed

The guideline value for Pensioner Lane has seen several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 218% rise. However, it then decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. From 2017 to 2023, the value increased to Rs 3,500 per sq.ft, a substantial rise of 49%. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft, reflecting a 9% increase from the previous year.

It is noteworthy that the register has no figures for Pensioner Lane for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 245%.

Guideline values in Purasaivakkam

Purasaivakkam has a total of 519 streets under the Purasaivakkam SRO with a 2024 guideline value range 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 Pensioner Lane's 2024 figure below that median.

• Perambur Barracks Road (A) Veda Vinayagar Koil Street: Rs 6,600 per sq.ft (2024)
• Periya Bajanai Koil Street: Rs 4,400 per sq.ft (2024)
• Payila Pachiappan Street: Rs 3,800 per sq.ft (2024)
• Parthasarathy Street: Rs 5,500 per sq.ft (2024)
• Parasuraman Street: Rs 5,500 per sq.ft (2024)
• Perumal 1st Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pensioner Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees together to Rs 3,42,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pensioner Lane?

The Sub Registrar Office covering Pensioner 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 factor during the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware of the guideline value to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Pensioner Lane?

The current guideline value of Pensioner Lane is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, showing a significant increase of 245% overall.

What are the stamp duty and registration fees for property in Pensioner Lane?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles property registrations for Pensioner Lane?

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

What is the land classification for Pensioner Lane?

Pensioner Lane is classified as Residential Class IV Type - II under the current guidelines.