Guideline Value for SYED LINE

Syed Line guideline value

The current guideline value of Syed Line in Issa Pallavaram village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office and is classified as Residential Class I Type - III.

How the guideline value of Syed Line has changed

The guideline value of Syed Line has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,500 per sq.ft. In 2017, this value decreased to Rs 1,675 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase to Rs 2,500 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for Syed Line in the revisions from 2002, 2003, and 2007, indicating that the register has no figure for this street in those years. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Syed Line's 2024 figure below that median.

• Tennary Street: Rs 3,300 per sq.ft (2024)
• Thiruneermalai Road (PART): Rs 4,400 per sq.ft (2024)
• Thiru.Vi.Ka. Street (poli chetty street): Rs 3,850 per sq.ft (2024)
• Valluvar Pettai: Rs 4,400 per sq.ft (2024)
• Somasundaram Nagar: Rs 3,300 per sq.ft (2024)
• Vinayakar Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Syed Line

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that 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 Syed Line?

The Sub Registrar Office that covers Syed Line is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Issa Pallavaram

The guideline value plays a crucial role in the registration process of property transactions in Issa Pallavaram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is legally documented and taxed appropriately.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Accurate knowledge of these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Syed Line?

The current guideline value of Syed Line is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Syed Line?

Syed Line is classified as Residential Class I Type - III, which indicates its designation for residential purposes.

Where can I find the Sub Registrar Office for Syed Line?

The Sub Registrar Office for Syed Line is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for property transactions in Syed Line?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.