Guideline Value for SYLVAN LODGE COLONY

Sylvan Lodge Colony guideline value

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

How the guideline value of Sylvan Lodge Colony has changed

The guideline value for Sylvan Lodge Colony has seen significant changes over the years. In the 2007 revision, the value was Rs 6,840 per sq.ft, which increased to Rs 12,000 per sq.ft in 2012, marking a 75% rise. However, this value decreased by 33% to Rs 8,040 per sq.ft in the 2017 revision. The value then rose sharply to Rs 12,000 per sq.ft in the 2023 revision, and further increased by 10% to the current value of Rs 13,200 per sq.ft in 2024.

There are no figures available in the register for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 93%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values 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 figure for Sylvan Lodge Colony is above this median.

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

Stamp duty and registration fee for property in Sylvan Lodge Colony

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 charged at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, resulting in a total of 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sylvan Lodge Colony?

The Sub Registrar Office that covers Sylvan Lodge Colony is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Purasaivakkam

The guideline value is a crucial factor when registering property in Purasaivakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value ensures that the property is assessed at a standard rate, which helps in maintaining transparency in property dealings.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly affect the overall cost of the transaction. Buyers should ensure that they are informed about the guideline value to avoid any unexpected financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Sylvan Lodge Colony?

The current guideline value for Sylvan Lodge Colony 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 from Rs 6,840 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, representing an overall increase of 93% over the years.

What is the land classification for Sylvan Lodge Colony?

Sylvan Lodge Colony falls under the land classification of 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 is the stamp duty calculated for property in Sylvan Lodge Colony?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would amount to Rs 9,24,000 based on the current guideline value.