Guideline Value for Purupettai Sardar Lane

Purupettai Sardar Lane guideline value

The current guideline value of Purupettai Sardar Lane is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Purupettai Sardar Lane has changed

Over the years, the guideline value for Purupettai Sardar Lane has seen revisions, with the most recent being in 2024 at Rs 7,700 per sq.ft, an increase from Rs 7,000 per sq.ft in 2023. The change from 2023 to 2024 represents a 10% increase. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

The 2023 revision marked a change from the previous value, but the register does not provide figures for the earlier years. Therefore, the only available revisions are from 2023 and 2024, with the latter showing a notable increase in the guideline value.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Purupettai Sardar Lane's 2024 guideline value is below this median.

• Pycrofts Nagar: Rs 13,200 per sq.ft (2024)
• Pycrofts Nagar 1st Lane: Rs 13,200 per sq.ft (2024)
• Pudu Street: Rs 10,900 per sq.ft (2024)
• Pudupet Garden Street: Rs 7,700 per sq.ft (2024)
• Pudupet Garden 3rd Lane: Rs 7,700 per sq.ft (2024)
• Pudupet Garden 2nd Lane: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Purupettai Sardar Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Purupettai Sardar Lane?

The Sub Registrar Office that covers Purupettai Sardar Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property transfer.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are levied based on the value of the property. This process helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Purupettai Sardar Lane?

The current guideline value of Purupettai Sardar Lane is Rs 7,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, marking a 10% increase.

What is the land classification of Purupettai Sardar Lane?

Purupettai Sardar Lane is classified as Residential Class II Type - I.

Which Sub Registrar Office is responsible for Purupettai Sardar Lane?

The Chennai Central Joint I Sub Registrar Office is responsible for Purupettai Sardar Lane, located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Purupettai Sardar Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000.