Guideline Value for SACHITHANANTHAM STREET

Sachithanantham Street guideline value

The current guideline value of Sachithanantham Street in Purasaivakkam village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Purasaivakkam Sub Registrar Office (SRO) and is classified as Residential Class IV Type - I.

How the guideline value of Sachithanantham Street has changed

The guideline value for Sachithanantham Street has undergone several revisions over the years. The earliest available figure is from the 2007 revision, which was Rs 1,100 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a 264% rise. However, it then decreased to Rs 2,680 per sq.ft in the 2017 revision, a drop of 33%. The value saw a substantial increase to Rs 4,000 per sq.ft in the 2023 revision, followed by another rise to Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. It is important to note that the register has no figures for Sachithanantham Street for the years 2002 and 2003.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft as of 2024. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Sachithanantham Street's current guideline value below this median.

• Sachithanantham 1st Lane: 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 Street

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

Which Sub Registrar Office covers Sachithanantham Street?

The Sachithanantham Street is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Purasaivakkam

The guideline value plays a crucial role in property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that a buyer must pay when purchasing a property. This value is essential for both buyers and sellers to understand the financial implications of a property transaction.

When registering a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sachithanantham Street?

The current guideline value of Sachithanantham Street is Rs 4,400 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 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 300%.

What is the median guideline value in Purasaivakkam?

The median guideline value for streets in Purasaivakkam is Rs 5,500 per sq.ft, which is higher than the current value of Sachithanantham Street.

What are the stamp duty and registration fees for a property in Sachithanantham Street?

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 office handles registrations for Sachithanantham Street?

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