Guideline Value for SYLVAN LODGE COLONY 3RD CROSS STREET

Sylvan Lodge Colony 3rd Cross Street guideline value

The current guideline value of Sylvan Lodge Colony 3rd 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 is classified as Residential Special Type - I.

How the guideline value of Sylvan Lodge Colony 3rd Cross Street has changed

The guideline value for Sylvan Lodge Colony 3rd Cross Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 4,300 per sq.ft, which increased significantly to Rs 12,000 per sq.ft in the 2012 revision, marking a rise of 179%. However, in the 2017 revision, it decreased to Rs 8,040 per sq.ft, reflecting a decline of 33%. The value then saw a substantial increase to Rs 12,000 per sq.ft in the 2023 revision, followed by a further rise to Rs 13,200 per sq.ft in the 2024 revision, which is an increase of 10%.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 207%. It is important to note that there are no figures available 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 guideline value for these streets is Rs 5,500 per sq.ft, which means that the guideline value of Rs 13,200 per sq.ft for Sylvan Lodge Colony 3rd Cross Street is above that median.

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

Stamp duty and registration fee for property in Sylvan Lodge Colony 3rd 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 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, totaling Rs 11,88,000. 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 Sylvan Lodge Colony 3rd Cross Street?

The Sub Registrar Office that covers Sylvan Lodge Colony 3rd 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

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and in accordance with government regulations.

Frequently asked questions

What is the current guideline value for Sylvan Lodge Colony 3rd Cross Street?

The current guideline value for Sylvan Lodge Colony 3rd 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 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% over the years.

What is the land classification for this street?

Sylvan Lodge Colony 3rd Cross Street is classified as Residential Special Type - I.

Where can I find the registration office for this area?

The registration office for Sylvan Lodge Colony 3rd Cross Street is the Purasaivakkam Sub Registrar Office, 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 guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 9,24,000.