Guideline Value for SHEIK MUHAIDEEN SUBEDAR ROAD AND LANE

Sheik Muhaideen Subedar Road And Lane guideline value

The current guideline value of Sheik Muhaideen Subedar Road And Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Sheik Muhaideen Subedar Road And Lane has changed

The guideline value for Sheik Muhaideen Subedar Road And Lane has undergone several revisions over the years. In 2007, the value was set at Rs 1,800 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 150% rise. However, by 2017, the value dropped to Rs 3,015 per sq.ft, reflecting a decrease of 33%. The value then saw a substantial increase to Rs 4,500 per sq.ft in 2023, followed by a further rise to Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 172%. The changes between the revisions indicate fluctuations in the property values over the years, with the most significant rise occurring between 2007 and 2012, and then a notable increase from 2017 to 2023.

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 for these streets is Rs 5,500 per sq.ft, placing the guideline value of Sheik Muhaideen Subedar Road And Lane below this median.

• Shiva Shanmugapuram 2nd Street (Marai Malai Nagar): Rs 3,800 per sq.ft (2024)
• Shiva Shanmugapuram All Blocks: Rs 3,800 per sq.ft (2024)
• Shanmugarayan Street: Rs 4,900 per sq.ft (2024)
• Sir Ramaswamy Mudali Street: Rs 7,100 per sq.ft (2024)
• Semman Pettai Main Street: Rs 7,100 per sq.ft (2024)
• Semman Pettai 3rd Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sheik Muhaideen Subedar Road And Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sheik Muhaideen Subedar Road And Lane?

Sheik Muhaideen Subedar Road And Lane is covered by 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 the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to be aware of the current guideline value, as it directly impacts the costs associated with registration. Buyers and sellers should ensure they are informed about the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Sheik Muhaideen Subedar Road And Lane?

The current guideline value for Sheik Muhaideen Subedar Road And Lane is Rs 4,900 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 4,900 per sq.ft in 2024, reflecting an overall increase of 172% over the years.

What are the other streets in Purasaivakkam with their guideline values?

Other streets in Purasaivakkam include Shiva Shanmugapuram 2nd Street and All Blocks at Rs 3,800 per sq.ft, Shanmugarayan Street at Rs 4,900 per sq.ft, and several others ranging up to Rs 7,100 per sq.ft.

What is the stamp duty rate for properties in Sheik Muhaideen Subedar Road And Lane?

The stamp duty rate for properties in Sheik Muhaideen Subedar Road And Lane is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Purasaivakkam?

The Sub Registrar Office for Purasaivakkam is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find more information about your SRO online.