Guideline Value for SECRETARIAT COLONY

Secretariat Colony guideline value

The current guideline value of Secretariat Colony in Purasaivakkam village, under the Purasaivakkam SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Secretariat Colony has changed

Over the years, the guideline value for Secretariat Colony has seen several revisions. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 4,690 per sq.ft in 2017. The value then rose to Rs 7,000 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 7,700 per sq.ft, marking a 10% increase from the previous year.

From 2007 to 2024, the overall increase is substantial at 328%. The changes between the revisions include a 289% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a significant 49% increase from 2017 to 2023.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values 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's 2024 figure above this median.

• Secretariat Colony 1st Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 2nd Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 3rd Street: Rs 7,700 per sq.ft (2024)
• Secretariat Colony 4th 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)

Stamp duty and registration fee for property in Secretariat Colony

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, bringing the total fees 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 details.

Which Sub Registrar Office covers Secretariat Colony?

The Sub Registrar Office that covers Secretariat Colony 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 is used to determine the stamp duty and registration fees applicable during the property registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value serves as a benchmark for calculating the necessary fees. It is essential to check the most recent revisions to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Secretariat Colony?

The current guideline value of Secretariat Colony 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, representing an overall increase of 328%.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, with Secretariat Colony's value above this median.

What are the stamp duty and registration fees for a property in Secretariat Colony?

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.

Where is the Sub Registrar Office for Secretariat Colony located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.