Guideline Value for PURASAWAKKAM HIGH ROAD LANE

Purasawakkam High Road Lane guideline value

The current guideline value of Purasawakkam High Road Lane is Rs 10,900 per sq.ft, effective from 1 July 2024. This property is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Purasawakkam High Road Lane has changed

Over the years, the guideline value of Purasawakkam High Road Lane has seen several revisions. The 2007 revision set the value at Rs 4,500 per sq.ft, which increased to Rs 10,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 6,700 per sq.ft. Following this, the value rose significantly to Rs 10,000 per sq.ft in 2023 and then to the current figure of Rs 10,900 per sq.ft in 2024.

Looking at the changes, from the 2007 to 2012 revision, there was a substantial increase of 122%. However, from 2012 to 2017, the value decreased by 33%. The value then saw a remarkable increase of 49% from 2017 to 2023, and a further rise of 9% from 2023 to 2024. The overall increase from 2007 to 2024 is 142%. 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 for these streets is Rs 5,500 per sq.ft, placing Purasawakkam High Road Lane above this median.

• Purasawakkam High Road: Rs 10,900 per sq.ft (2024)
• Pudhu Thandavarayan Mudali Street: Rs 5,500 per sq.ft (2024)
• Prasanna Vinayagar Koil Street: Rs 6,500 per sq.ft (2024)
• Raghava Chetty Street: Rs 6,500 per sq.ft (2024)
• Potters Street: Rs 4,900 per sq.ft (2024)
• Raja Annamalai Chettiar Road: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Purasawakkam High Road Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 10,900 per sq.ft, the total guideline value amounts to Rs 1,09,00,000. The stamp duty, charged at 7%, would be Rs 7,63,000, while the registration fee at 2% would be Rs 2,18,000, bringing the total fees to Rs 9,81,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Purasawakkam High Road Lane?

The Sub Registrar Office that covers Purasawakkam High 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 Purasaivakkam

The guideline value plays a crucial role in property transactions within Purasaivakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property registration. Proper understanding of these values helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Purasawakkam High Road Lane?

The current guideline value of Purasawakkam High Road Lane is Rs 10,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2007 to Rs 10,900 per sq.ft in 2024, reflecting an overall increase of 142% over this period.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 1,09,00,000, the stamp duty would be Rs 7,63,000 and the registration fee would be Rs 2,18,000, totaling Rs 9,81,000.

Which office handles property registrations in Purasaivakkam?

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

What is the significance of the guideline value in property transactions?

The guideline value is crucial as it determines the stamp duty and registration fees during property transactions, ensuring accurate recording in official records.