Guideline Value for SECRETARIAT COLONY 9TH STREET

Secretariat Colony 9th Street guideline value

The current guideline value of Secretariat Colony 9th Street is Rs 7,700 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 - I.

How the guideline value of Secretariat Colony 9th Street has changed

The guideline value for Secretariat Colony 9th Street has seen significant changes over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,800 per sq.ft. This increased dramatically 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, which represented a decline of 33%. The value then increased again to Rs 7,000 per sq.ft in 2023, followed by a further rise to the current value of Rs 7,700 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 328%, showcasing the fluctuations in property values in this area.

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 value is Rs 5,500 per sq.ft, placing the 2024 guideline value of Secretariat Colony 9th Street above this median.

• Secretariat Colony Lane: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 8th Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 7th Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 6th Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 5th Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 4th Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Secretariat Colony 9th 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, resulting in a combined total of 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 the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Secretariat Colony 9th Street?

The Sub Registrar Office that covers Secretariat Colony 9th 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 is a crucial factor in property transactions in Purasaivakkam, as it determines the amount of stamp duty and registration fees that buyers must pay. When a property is sold, the buyer must pay these fees based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers navigate the financial aspects of property transactions. Accurate knowledge of these values ensures compliance with local regulations and helps avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Secretariat Colony 9th Street?

The current guideline value of Secretariat Colony 9th 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, showing an overall increase of 328% over the years.

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

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles registrations for properties in Secretariat Colony 9th Street?

The Purasaivakkam Sub Registrar Office handles registrations for properties in Secretariat Colony 9th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the significance of the guideline value in property transactions?

The guideline value is essential in determining the stamp duty and registration fees during property transactions. It ensures that buyers and sellers are aware of the financial obligations involved in the registration process.