Guideline Value for STRAHANS 6TH LANE

Strahans 6th Lane guideline value

The current guideline value of Strahans 6th 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 6th Lane has changed

The guideline value for Strahans 6th Lane has undergone several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 355%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then increased to Rs 5,000 per sq.ft in 2023, a rise of 49% from the previous revision. The latest revision in 2024 set the guideline value at Rs 5,500 per sq.ft, reflecting a 10% increase from 2023.

The register does not contain figures 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 guideline value is Rs 5,500 per sq.ft, which is the same as the current value for Strahans 6th Lane.

• Strahans 5th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 7th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 4th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 8th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 3rd Lane: Rs 5,500 per sq.ft (2024)
• Strahans 9th Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Strahans 6th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline 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, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Strahans 6th Lane?

The Sub Registrar Office that covers Strahans 6th 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 registering a property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the sale or purchase process.

When a property is sold, the guideline value serves as a benchmark for the minimum value on which stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Strahans 6th Lane?

The current guideline value of Strahans 6th 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, reflecting an overall increase of 400%. The value saw fluctuations, including a drop from Rs 5,000 in 2012 to Rs 3,350 in 2017.

What are the stamp duty and registration fees for a property in Strahans 6th Lane?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000. This is based on the current guideline value of Rs 5,500 per sq.ft.

Which office handles property registrations for Strahans 6th Lane?

The Purasaivakkam Sub Registrar Office handles property registrations for Strahans 6th Lane, 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 used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for the minimum value on which these fees are based, ensuring compliance with local regulations.