Guideline Value for SARAVANA PERUMAL 2ND LANE

Saravana Perumal 2nd Lane guideline value

The current guideline value of Saravana Perumal 2nd Lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of Saravana Perumal 2nd Lane has changed

Over the years, the guideline value of Saravana Perumal 2nd Lane has seen several revisions. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, there was a decrease in the guideline value in the 2017 revision, bringing it down to Rs 4,355 per sq.ft. The value rose again to Rs 6,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 7,100 per sq.ft. The changes between these revisions include a 261% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024.

The guideline value register has no figures for the years 2002 and 2003 for this street.

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. The median guideline value is Rs 5,500 per sq.ft, placing Saravana Perumal 2nd Lane's 2024 figure above this median.

• Saravana Perumal 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000, leading to a combined fee of Rs 6,39,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saravana Perumal 2nd Lane?

The Sub Registrar Office that covers Saravana Perumal 2nd Lane is 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 the registration process when buying or selling property in Purasaivakkam. It is used to determine the stamp duty and registration fees that are payable during the transaction. Buyers and sellers must ensure they are aware of the current guideline value to avoid any discrepancies during registration.

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

Frequently asked questions

What is the current guideline value of Saravana Perumal 2nd Lane?

The current guideline value of Saravana Perumal 2nd 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 significantly from Rs 1,800 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting a total increase of 294% over the years.

What are the stamp duty and registration fees for properties in this area?

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

Which Sub Registrar Office handles registrations for Saravana Perumal 2nd Lane?

The Purasaivakkam Sub Registrar Office handles registrations for Saravana Perumal 2nd Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the significance of the guideline value when buying property?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the correct fees are paid based on the higher of the guideline value or the sale price.