Guideline Value for SECRETARIAT COLONY 5TH STREET

Secretariat Colony 5th Street guideline value

The current guideline value of Secretariat Colony 5th Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Secretariat Colony 5th Street has changed

The guideline value for Secretariat Colony 5th Street has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, this value decreased to Rs 4,690 per sq.ft in 2017. The 2023 revision brought the value up to Rs 7,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 7,700 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 reflects a 10% rise. The overall change from 2007 to 2024 shows a substantial increase of 328% in the guideline value 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, placing Secretariat Colony 5th Street above this median.

• Secretariat Colony 4th Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 6th Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 3rd Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 7th Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 8th Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 2nd Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Secretariat Colony 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, making the total fees together 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 5th Street?

The Sub Registrar Office that covers Secretariat Colony 5th 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 when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, ensuring that the transaction is officially recorded.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid during the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Secretariat Colony 5th Street?

The current guideline value of Secretariat Colony 5th 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 from Rs 1,800 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 328%.

What is the land classification for Secretariat Colony 5th Street?

The land classification for Secretariat Colony 5th Street is Residential Class II Type - I.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Secretariat Colony 5th Street is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Secretariat Colony 5th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.