Guideline Value for UPPIRA NARAYANAN 1ST LANE

Uppira Narayanan 1st Lane guideline value

The current guideline value of Uppira Narayanan 1st Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This lane is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Uppira Narayanan 1st Lane has changed

The guideline value for Uppira Narayanan 1st Lane has undergone several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this value decreased to Rs 2,680 per sq.ft in 2017. The most recent revisions show an increase to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024.

From 2017 to 2023, the guideline value rose by 49%, and from 2023 to 2024, it increased by 10%. The overall increase from 2007 to 2024 is 300%. The register has no figures for the years 2002 and 2003 for this street.

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, with a median value of Rs 5,500 per sq.ft. The guideline value of Rs 4,400 per sq.ft for Uppira Narayanan 1st Lane is below this median.

• Uppira Narayanan 2nd Lane: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan 3rd Lane: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan Street: Rs 4,400 per sq.ft (2024)
• Uppira Valluvan Street: Rs 4,400 per sq.ft (2024)
• Vada Malai Pillai Street: Rs 6,000 per sq.ft (2024)
• Vaikkakaran Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Uppira Narayanan 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that 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 Uppira Narayanan 1st Lane?

The Sub Registrar Office that covers Uppira Narayanan 1st Lane 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 is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the government. This process aids in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Uppira Narayanan 1st Lane?

The current guideline value of Uppira Narayanan 1st Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What is the land classification for Uppira Narayanan 1st Lane?

Uppira Narayanan 1st Lane is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Uppira Narayanan 1st Lane?

The Purasaivakkam Sub Registrar Office handles property registrations for Uppira Narayanan 1st Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.