Guideline Value for UPPIRA NARAYANAN 2ND LANE

Uppira Narayanan 2nd Lane guideline value

The current guideline value of Uppira Narayanan 2nd 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 2nd Lane has changed

The guideline value for Uppira Narayanan 2nd Lane has seen several revisions over the years. In 2007, the guideline value was Rs 1,100 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 4,000 per sq.ft, which has now risen to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 300%. The register does not have 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 Uppira Narayanan 2nd Lane is below this median.

• Uppira Narayanan 1st 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 2nd 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 amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Uppira Narayanan 2nd Lane?

The Sub Registrar Office that covers Uppira Narayanan 2nd 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 during property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers should be aware that the guideline value may differ from the actual sale price.

During the registration process, the guideline value will be referenced to ensure that the appropriate fees are collected. It is essential for both buyers and sellers to understand how this value impacts their financial obligations during property transactions.

Frequently asked questions

What is the current guideline value of Uppira Narayanan 2nd Lane?

The current guideline value of Uppira Narayanan 2nd 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, marking a total increase of 300% over the years.

What are the stamp duty and registration fees for property in this lane?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

Which Sub Registrar Office covers this area?

The Purasaivakkam Sub Registrar Office covers Uppira Narayanan 2nd Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Uppira Narayanan 2nd Lane?

Uppira Narayanan 2nd Lane is classified as Residential Class IV Type - I according to the local guidelines.