Guideline Value for SUNDARAM PILLAI LANE

Sundaram Pillai Lane guideline value

The current guideline value of Sundaram Pillai Lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This lane is located in Purasaivakkam village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Sundaram Pillai Lane has changed

The guideline value for Sundaram Pillai Lane has seen several revisions over the years. In the 2007 revision, the value was Rs 1,800 per sq.ft, which then increased significantly to Rs 6,500 per sq.ft in the 2012 revision. However, between the 2012 and 2017 revisions, the value decreased to Rs 4,355 per sq.ft. The subsequent 2023 revision raised the guideline value to Rs 6,500 per sq.ft, and most recently, the 2024 revision set it at Rs 7,100 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 294%. The register has no figures 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 for these streets is Rs 5,500 per sq.ft, placing Sundaram Pillai Lane's 2024 figure above that median.

• Sundaram Pillai Street: Rs 7,100 per sq.ft (2024)
• Sudukadu Hut Area: Rs 2,200 per sq.ft (2024)
• Sundarlal Nahata Avenue: Rs 7,700 per sq.ft (2024)
• Subramanya Mudali Street: Rs 7,100 per sq.ft (2024)
• Sunnambu Kalvai Cheri: Rs 2,200 per sq.ft (2024)
• Surat Bhavan Garden: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Pillai Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundaram Pillai Lane?

The Sub Registrar Office that covers Sundaram Pillai 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, as it determines the minimum value at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

During registration, the seller and buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. This ensures transparency and fairness in property transactions within the Purasaivakkam region.

Frequently asked questions

What is the current guideline value of Sundaram Pillai Lane?

The current guideline value of Sundaram Pillai Lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting a total increase of 294% over this period.

What are the stamp duty and registration fees for properties in Sundaram Pillai Lane?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office covers Sundaram Pillai Lane?

The Purasaivakkam Sub Registrar Office covers Sundaram Pillai Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Sundaram Pillai Lane?

The land classification for Sundaram Pillai Lane is Residential Class II Type - III, which indicates its suitability for residential development.