Guideline Value for SYLVAN LODGE COLONY 4TH CROSS STREET

Sylvan Lodge Colony 4th Cross Street guideline value

The current guideline value of Sylvan Lodge Colony 4th 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 4th Cross Street has changed

Over the years, the guideline value for Sylvan Lodge Colony 4th Cross Street has seen significant changes. The 2007 revision set the value at Rs 4,300 per sq.ft, which increased to Rs 12,000 per sq.ft in 2012, marking a substantial rise of 179%. However, in 2017, the value decreased to Rs 8,040 per sq.ft, a drop of 33%. The value then rose again to Rs 12,000 per sq.ft in 2023, before reaching the current figure of Rs 13,200 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2007 revision to the current 2024 value, the guideline value has increased by 207%. It is important to note that the register has no figure for this street in 2002 and 2003.

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 in this area is Rs 5,500 per sq.ft, and the 2024 value for Sylvan Lodge Colony 4th Cross Street is above this median.

• Sylvan Lodge Colony 1st Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 2nd Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 2nd Cross Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 3rd Street: Rs 13,200 per sq.ft (2024)
• Sylvan Lodge Colony 3rd Cross 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 4th 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 fees to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sylvan Lodge Colony 4th Cross Street?

The Sub Registrar Office that covers Sylvan Lodge Colony 4th 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 determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the local regulations.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sylvan Lodge Colony 4th Cross Street?

The current guideline value of Sylvan Lodge Colony 4th 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, reflecting an overall increase of 207% over the years.

What is the land classification for this street?

Sylvan Lodge Colony 4th Cross Street is classified as Residential Special Type - I.

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

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

Where can I find the Sub Registrar Office for Sylvan Lodge Colony 4th Cross Street?

The Sub Registrar Office for Sylvan Lodge Colony 4th Cross Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.