Guideline Value for SYLVAN LODGE COLONY 4TH STREET

Sylvan Lodge Colony 4th Street guideline value

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

Over the years, the guideline value for Sylvan Lodge Colony 4th Street has seen several revisions. The 2007 revision set the value at Rs 4,300 per sq.ft, which increased significantly to Rs 12,000 per sq.ft in 2012, marking a rise of 179%. However, in 2017, the value dropped to Rs 8,040 per sq.ft, reflecting a decrease of 33%. The value then climbed to Rs 12,000 per sq.ft in 2023, before reaching the current figure of Rs 13,200 per sq.ft in 2024, an increase of 10% from the previous year. The register has no figures for the years 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 207%, showcasing significant changes in the valuation over the years.

Guideline values in Purasaivakkam

Within 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, indicating that the guideline value for Sylvan Lodge Colony 4th Street is above this median.

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

Stamp duty and registration fee for property in Sylvan Lodge Colony 4th 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. Please note that the 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 details.

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

The Sub Registrar Office covering Sylvan Lodge Colony 4th 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 a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as assessed by the guideline value register.

Frequently asked questions

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

The current guideline value of Sylvan Lodge Colony 4th 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,32,00,000, the stamp duty is Rs 9,24,000, and the registration fee is Rs 2,64,000, totaling Rs 11,88,000.

Which office handles property registration in Purasaivakkam?

The Purasaivakkam Sub Registrar Office handles property registration in Purasaivakkam, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property registration and is used to calculate stamp duty and registration fees based on the higher of the guideline value or the sale price.