Guideline Value for SYLVAN LODGE COLONY 3RD STREET

Sylvan Lodge Colony 3rd Street guideline value

The current guideline value of Sylvan Lodge Colony 3rd 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 Street has changed

The guideline value for Sylvan Lodge Colony 3rd Street has seen significant changes over the years. In the 2007 revision, the value was Rs 4,300 per sq.ft, which increased dramatically to Rs 12,000 per sq.ft in 2012, marking a rise of 179%. However, this value dropped by 33% to Rs 8,040 per sq.ft in the 2017 revision. Following this, the value surged by 49% to Rs 12,000 per sq.ft in 2023, and then further increased by 10% to the current rate of Rs 13,200 per sq.ft in the 2024 revision.

It is important to note that 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 207%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO carrying a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value for Sylvan Lodge Colony 3rd Street is above this median.

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

Stamp duty and registration fee for property in Sylvan Lodge Colony 3rd 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 fees together to Rs 11,88,000. 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 detailed calculations.

Which Sub Registrar Office covers Sylvan Lodge Colony 3rd Street?

Sylvan Lodge Colony 3rd Street falls under the jurisdiction of 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 a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the fees are based on a standardized value, providing transparency in real estate transactions within the region.

Frequently asked questions

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

The current guideline value for Sylvan Lodge Colony 3rd 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 is the land classification for Sylvan Lodge Colony 3rd Street?

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

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000.