Guideline Value for SARAVANA PERUMAL STREET

Saravana Perumal Street guideline value

The current guideline value of Saravana Perumal Street 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 Street has changed

Over the years, the guideline value for Saravana Perumal Street has seen significant changes. The 2007 revision set the guideline value at Rs 1,800 per sq.ft, which increased to Rs 6,500 per sq.ft in 2012. However, there was a decrease to Rs 4,355 per sq.ft in 2017. The value then rose sharply to Rs 6,500 per sq.ft in 2023, before reaching the current value of Rs 7,100 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 was a decrease of 33%, while the jump from 2007 to 2012 was a substantial 261%. Overall, from 2007 to 2024, the guideline value has increased by 294%. The 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 with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, making Saravana Perumal Street's 2024 figure above the median.

• Saravana Perumal 3rd Lane: Rs 7,100 per sq.ft (2024)
• Saravana Perumal 2nd Lane: Rs 7,100 per sq.ft (2024)
• Saravana Perumal 1st Lane: 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 Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saravana Perumal Street?

The Sub Registrar Office that covers Saravana Perumal Street 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 when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay duties based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions within the region.

Frequently asked questions

What is the current guideline value of Saravana Perumal Street?

The current guideline value of Saravana Perumal Street 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, with various revisions in between. The most recent revision saw a 9% increase from the previous year.

What is the median guideline value in Purasaivakkam?

The median guideline value for the 519 streets in Purasaivakkam is Rs 5,500 per sq.ft. Saravana Perumal Street's current value is above this median.

What are the stamp duty rates for properties in Saravana Perumal Street?

The stamp duty rate for properties is 7%, while the registration fee is 2%. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Saravana Perumal Street located?

The Sub Registrar Office for Saravana Perumal Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. This office handles the registration of property transactions in the area.