Guideline Value for SARAVANA PERUMAL 1ST LANE

Saravana Perumal 1st Lane guideline value

The current guideline value of Saravana Perumal 1st Lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class II Type - III.

How the guideline value of Saravana Perumal 1st Lane has changed

The guideline value for Saravana Perumal 1st Lane has undergone several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012, marking a rise of 261%. However, between 2012 and 2017, the value decreased to Rs 4,355 per sq.ft, a decline of 33%. The value then rose to Rs 6,500 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 294%.

Guideline values in Purasaivakkam

Within 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. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Saravana Perumal 1st Lane's 2024 figure above that median.

• Saravana Perumal 2nd Lane: Rs 7,100 per sq.ft (2024)
• Saravana Perumal 3rd Lane: Rs 7,100 per sq.ft (2024)
• Saravana Perumal Street: Rs 7,100 per sq.ft (2024)
• Sappakal Ramanujammal Garden Street: Rs 4,400 per sq.ft (2024)
• Sanyasipuram Lane: Rs 4,400 per sq.ft (2024)
• Sanyasipuram All Streets: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Perumal 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees together to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saravana Perumal 1st Lane?

The Sub Registrar Office that covers Saravana Perumal 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 plays a crucial role in the registration process of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for completing the legal formalities of the transaction. Buyers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Saravana Perumal 1st Lane?

The current guideline value of Saravana Perumal 1st Lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 294% over the years.

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

For a property valued at Rs 71,00,000, the stamp duty is Rs 4,97,000, and the registration fee is Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office is responsible for Saravana Perumal 1st Lane?

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

What is the land classification for Saravana Perumal 1st Lane?

Saravana Perumal 1st Lane is classified as Residential Class II Type - III, indicating its suitability for residential purposes.