Guideline Value for SYLVAN LODGE COLONY 2ND STREET

Sylvan Lodge Colony 2nd Street guideline value

The current guideline value for Sylvan Lodge Colony 2nd Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sylvan Lodge Colony 2nd Street has changed

The guideline value for Sylvan Lodge Colony 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 4,300 per sq.ft. This increased significantly to Rs 12,000 per sq.ft in 2012, marking a 179% rise. However, from 2012 to 2017, the value decreased to Rs 8,040 per sq.ft, reflecting a decline of 33%. The value then increased to Rs 12,000 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 13,200 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 207%.

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 for these streets is Rs 5,500 per sq.ft, positioning Sylvan Lodge Colony 2nd Street above this median.

• Sylvan Lodge Colony 2nd Cross Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 3rd Cross Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 1st Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 3rd Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 1st Cross Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 4th Cross Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sylvan Lodge Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total cost for these fees to Rs 11,88,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sylvan Lodge Colony 2nd Street?

The Sub Registrar Office that covers Sylvan Lodge Colony 2nd 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

The guideline value is a critical factor in property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value ensures that the government receives appropriate revenue from property transactions.

When selling property, the guideline value may also serve as a reference point for pricing, although the actual sale price can vary based on market conditions. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value for Sylvan Lodge Colony 2nd Street?

The current guideline value for Sylvan Lodge Colony 2nd 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 significantly, from Rs 4,300 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 207%.

What are the other streets in Purasaivakkam with the same guideline value?

Other streets in Purasaivakkam with the same guideline value of Rs 13,200 per sq.ft include Sylvan Lodge Colony 1st Street, 2nd Cross Street, 3rd Cross Street, 3rd Street, 1st Cross Street, and 4th Cross Street.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7%, and the registration fee is charged at 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sylvan Lodge Colony 2nd Street?

The Sub Registrar Office for Sylvan Lodge Colony 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.