Guideline Value for SYLVAN LODGE COLONY 1ST CROSS STREET

Sylvan Lodge Colony 1st Cross Street guideline value

The current guideline value of Sylvan Lodge Colony 1st Cross Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, and the land classification is Residential Special Type - I.

How the guideline value of Sylvan Lodge Colony 1st Cross Street has changed

The guideline value for Sylvan Lodge Colony 1st Cross Street has seen several revisions over the years. The 2007 revision recorded a value of Rs 6,840 per sq.ft, which increased to Rs 12,000 per sq.ft in 2012, marking a 75% rise. However, the value decreased to Rs 8,040 per sq.ft in 2017, reflecting a 33% drop. The 2023 revision brought it back up to Rs 12,000 per sq.ft, and the current 2024 revision shows a further increase to Rs 13,200 per sq.ft, which is a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 93%.

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, placing Sylvan Lodge Colony 1st Cross Street's value above this median.

• Sylvan Lodge Colony: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 1st Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 2nd Cross Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 2nd Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 3rd Cross Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 3rd Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sylvan Lodge Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total to Rs 11,88,000. 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 Sylvan Lodge Colony 1st Cross Street?

The Sub Registrar Office that covers Sylvan Lodge Colony 1st Cross Street 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

When buying or selling property in Purasaivakkam, the guideline value is used to determine the stamp duty and registration fees payable at the time of registration. This value is essential for ensuring that the transaction is recorded accurately and complies with local regulations.

Additionally, the guideline value helps in establishing a baseline for property transactions within the area. It is crucial for both buyers and sellers to be aware of this value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Sylvan Lodge Colony 1st Cross Street?

The current guideline value of Sylvan Lodge Colony 1st Cross Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,840 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 93% over the years.

What is the land classification for Sylvan Lodge Colony 1st Cross Street?

The land classification for Sylvan Lodge Colony 1st Cross Street is Residential Special Type - I, indicating its designated use for residential purposes.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Sylvan Lodge Colony 1st Cross Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 1,32,00,000 would incur a stamp duty of Rs 9,24,000 at 7%.