Guideline Value for STRAHANS 1ST LANE

Strahans 1st Lane guideline value

The current guideline value of Strahans 1st Lane is Rs 5,500 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 III Type - I.

How the guideline value of Strahans 1st Lane has changed

The guideline value for Strahans 1st Lane has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,100 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a 355% rise. However, the value then decreased to Rs 3,350 per sq.ft in 2017, representing a decline of 33%. The most recent revisions show an increase to Rs 5,000 per sq.ft in 2023 and then to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year and a total increase of 49% from 2017.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

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, which is equal to the current guideline value of Strahans 1st Lane.

• Strahans 10th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 2nd Lane: Rs 5,500 per sq.ft (2024)
• Strahans 3rd Lane: Rs 5,500 per sq.ft (2024)
• Strahans 4th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 5th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 6th Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Strahans 1st Lane

For a 1,000 sq.ft plot at the current guideline value, the total value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees together Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Strahans 1st Lane?

The Sub Registrar Office that covers Strahans 1st Lane 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 during the registration of property transactions in Purasaivakkam. It serves as a reference for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Strahans 1st Lane?

The current guideline value of Strahans 1st Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 400% over the years.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, which is the same as the current guideline value of Strahans 1st Lane.

What are the stamp duty and registration fees for properties in Strahans 1st Lane?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would be Rs 4,95,000.

Where is the Sub Registrar Office for Strahans 1st Lane located?

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