Guideline Value for TEMPLE ROAD / LANE

Temple Road / Lane guideline value

The current guideline value for Temple Road / Lane in Purasaivakkam village is Rs 6,000 per sq.ft, effective from 1 July 2024. This street falls under the Purasaivakkam SRO and is classified as Residential Class III Type - III.

How the guideline value of Temple Road / Lane has changed

The guideline value for Temple Road / Lane has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012. However, it then dropped to Rs 3,685 per sq.ft in 2017. The most recent figures show an increase to Rs 5,500 per sq.ft in 2023, followed by a further rise to Rs 6,000 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2007 to 2024, the overall change in the guideline value is +233%. The increase from 2012 to 2017 was -33%, while the value surged by +206% from 2007 to 2012. The most notable increase was from 2017 to 2023, which saw a rise of +49%, followed by a +9% increase from 2023 to 2024.

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 is Rs 5,500 per sq.ft, placing Temple Road / Lane above this median.

• Thakar Street: Rs 6,500 per sq.ft (2024)
• Thambuswamy Street & Road: Rs 13,200 per sq.ft (2024)
• Thana Street(A) Kanthappa Mudali High Road: Rs 9,900 per sq.ft (2024)
• Thandavan Achary Street: Rs 7,100 per sq.ft (2024)
• Thandavarayan Street: Rs 7,100 per sq.ft (2024)
• Sylvan Lodge Colony 4th Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Temple Road / Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total cost to Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Temple Road / Lane?

The Sub Registrar Office covering Temple Road / Lane 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 in property transactions in Purasaivakkam, as it determines the minimum value at which a property can be registered. When a buyer purchases a property, the registration process requires the payment of stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process in Purasaivakkam.

Frequently asked questions

What is the current guideline value of Temple Road / Lane?

The current guideline value of Temple Road / Lane is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of +233% over the years.

What are the stamp duty and registration fees for properties on Temple Road / Lane?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000, and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which Sub Registrar Office is responsible for Temple Road / Lane?

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

What is the land classification for Temple Road / Lane?

Temple Road / Lane is classified as Residential Class III Type - III according to the guidelines.