Guideline Value for SECRETARIAT COLONY 3RD STREET

Secretariat Colony 3rd Street guideline value

The current guideline value of Secretariat Colony 3rd Street is Rs 7,700 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 - I.

How the guideline value of Secretariat Colony 3rd Street has changed

Since the 2007 revision, the guideline value for Secretariat Colony 3rd Street has seen significant changes. In 2007, the value was Rs 1,800 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012, marking a rise of 289%. However, from 2012 to 2017, the value decreased to Rs 4,690 per sq.ft, a drop of 33%. The 2023 revision set the value at Rs 7,000 per sq.ft, which then increased to Rs 7,700 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 328%. The register does not contain 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 guideline value is Rs 5,500 per sq.ft, placing Secretariat Colony 3rd Street's 2024 value above this median.

• Secretariat Colony 4th Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 2nd Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 5th Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 6th Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 7th Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 1st Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Secretariat Colony 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. 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 detailed calculations.

Which Sub Registrar Office covers Secretariat Colony 3rd Street?

The Sub Registrar Office that covers Secretariat Colony 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor 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 must be paid at the time of property registration.

When a property is sold, the guideline value is considered alongside the sale price to ensure that the appropriate fees are calculated. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Secretariat Colony 3rd Street?

The current guideline value of Secretariat Colony 3rd Street is Rs 7,700 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 7,700 per sq.ft in 2024, marking an overall increase of 328% over the years.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, with Secretariat Colony 3rd Street's value above this median at Rs 7,700 per sq.ft.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 6,93,000.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Secretariat Colony 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.