Guideline Value for SACHITHANANTHAM 1ST LANE

Sachithanantham 1st Lane guideline value

The current guideline value of Sachithanantham 1st Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO and falls under the Residential Class IV Type - I land classification.

How the guideline value of Sachithanantham 1st Lane has changed

The guideline value for Sachithanantham 1st Lane has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,100 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft. This was followed by a notable increase to Rs 4,000 per sq.ft in 2023, and then to the current value of Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. The changes between the revisions include a 49% increase from 2017 to 2023 and a 264% increase from 2007 to 2012. The register has no figure for Sachithanantham 1st Lane for the years 2002 and 2003.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Sachithanantham 1st Lane's 2024 guideline value is below this median.

• Sachithanantham Street: Rs 4,400 per sq.ft (2024)
• Sadasivam Street: Rs 4,400 per sq.ft (2024)
• Rundals Street: Rs 14,300 per sq.ft (2024)
• Rundals Road: Rs 14,300 per sq.ft (2024)
• Rudrappa Street: Rs 5,500 per sq.ft (2024)
• Rotler Street: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sachithanantham 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sachithanantham 1st Lane?

The Sub Registrar Office that covers Sachithanantham 1st 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 in the registration process when buying or selling property in Purasaivakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value helps in determining the official value of the property for legal and taxation purposes. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration of the property.

Frequently asked questions

What is the current guideline value of Sachithanantham 1st Lane?

The current guideline value of Sachithanantham 1st Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What are the stamp duty and registration fees for properties in Sachithanantham 1st Lane?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Sachithanantham 1st Lane?

The Purasaivakkam Sub Registrar Office covers Sachithanantham 1st Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Sachithanantham 1st Lane?

Sachithanantham 1st Lane falls under the Residential Class IV Type - I land classification.