Guideline Value for SANYASIPURAM LANE

Sanyasipuram Lane guideline value

The current guideline value of Sanyasipuram Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This lane is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sanyasipuram Lane has changed

The guideline value for Sanyasipuram Lane has undergone several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, this value decreased to Rs 2,680 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 4,000 per sq.ft, followed by a further increase to Rs 4,400 per sq.ft in 2024, marking a 10% rise from the previous year.

In total, from the 2007 revision to the 2024 revision, the guideline value has increased by 144%. The changes between revisions are notable: the value rose by 122% from 2007 to 2012, decreased by 33% from 2012 to 2017, and increased by 49% from 2017 to 2023.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 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 in this area is Rs 5,500 per sq.ft, indicating that Sanyasipuram Lane's 2024 figure is below this median.

• Sanyasipuram All Streets: Rs 4,400 per sq.ft (2024)
• Sanyasipuram 1st Street: Rs 4,900 per sq.ft (2024)
• Sappakal Ramanujammal Garden Street: Rs 4,400 per sq.ft (2024)
• Santhiappa Street Extension: Rs 5,500 per sq.ft (2024)
• Santhiappa Road: Rs 5,500 per sq.ft (2024)
• Santhiappa Mudali Main Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sanyasipuram Lane

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, and the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration would be Rs 3,96,000. It is important to 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 Sanyasipuram Lane?

The Sub Registrar Office that covers Sanyasipuram Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is documented correctly. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sanyasipuram Lane?

The current guideline value of Sanyasipuram 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, increasing from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 144%.

What is the stamp duty rate for properties in Sanyasipuram Lane?

The stamp duty rate for properties in Sanyasipuram Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sanyasipuram Lane located?

The Sub Registrar Office for Sanyasipuram Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the guideline value determined for properties in Purasaivakkam?

The guideline value for properties in Purasaivakkam is determined by the Registration Department's guideline value register, reflecting the current market conditions and land classification.