Guideline Value for STRAHANS 9TH LANE

Strahans 9th Lane guideline value

The current guideline value of Strahans 9th 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 9th Lane has changed

The guideline value for Strahans 9th 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, in 2017, the value dropped to Rs 3,350 per sq.ft, before rising again to Rs 5,000 per sq.ft in 2023. The latest revision in 2024 has increased the value to Rs 5,500 per sq.ft.

In terms of percentage changes, the value increased by 355% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 400% from 2007 to 2024. The register has no figure for the years 2002 and 2003 for this street.

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 2024 figure for Strahans 9th Lane.

• Strahans 8th Lane: Rs 5,500 per sq.ft (2024)
• Strahans Road: Rs 7,100 per sq.ft (2024)
• Strahans 7th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 6th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 5th Lane: Rs 5,500 per sq.ft (2024)
• Strahans 4th Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Strahans 9th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to 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, bringing the total fees to Rs 4,95,000. It is important to note that 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 Strahans 9th Lane?

The Sub Registrar Office that covers Strahans 9th 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 plays a crucial role in the registration process of property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling a property, the guideline value can also serve as a reference point for both buyers and sellers. It ensures that the transaction is recorded at a value recognized by the government, which is essential for legal and taxation purposes.

Frequently asked questions

What is the current guideline value of Strahans 9th Lane?

The current guideline value of Strahans 9th 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 significantly from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 400% over this period.

What is the land classification of Strahans 9th Lane?

Strahans 9th Lane is classified as Residential Class III Type - I according to the local land classification regulations.

Where can I find the Sub Registrar Office for Strahans 9th Lane?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers Strahans 9th Lane.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For instance, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 and a registration fee of Rs 1,10,000.