Guideline Value for STRAHANS 5TH LANE

Strahans 5th Lane guideline value

The current guideline value of Strahans 5th 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 5th Lane has changed

The guideline value for Strahans 5th Lane has seen several revisions over the years. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, there was a decrease to Rs 3,350 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 5,000 per sq.ft, followed by a further increase to Rs 5,500 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 400%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value. These values range from Rs 2,200 to Rs 18,100 per sq.ft, with a median of Rs 5,500 per sq.ft. The guideline value of Strahans 5th Lane matches this median.

• Strahans 4th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 6th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 3rd Lane: Rs 5,500 per sq.ft (2024)
• Strahans 7th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 2nd Lane: Rs 5,500 per sq.ft (2024)
• Strahans 8th Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Strahans 5th Lane

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling Rs 4,95,000. 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 Strahans 5th Lane?

The Sub Registrar Office that covers Strahans 5th 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 in property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value serves as a benchmark for calculating the associated costs. This ensures that both parties are aware of the financial implications of the transaction based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Strahans 5th Lane?

The current guideline value of Strahans 5th 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 changed from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 400% over the years.

What is the land classification for Strahans 5th Lane?

Strahans 5th Lane is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Strahans 5th Lane?

The Sub Registrar Office for Strahans 5th Lane is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Strahans 5th Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a 1,000 sq.ft plot, the stamp duty would be Rs 3,85,000 based on the current guideline value.