Guideline Value for Albert Lane

Albert Lane guideline value

The current guideline value of Albert Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Albert Lane has changed

The guideline value for Albert Lane has seen several revisions over the years. In 2003, the value was Rs 492 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following this, the value surged significantly to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 2,200 per sq.ft.

Between these revisions, there were notable changes. From 2003 to 2007, the increase was 2%, while from 2007 to 2012, there was a substantial rise of 300%. However, the value decreased by 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 347%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a total of 81 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Albert Lane's 2024 figure below this median.

• Adinaidu Street: Rs 2,200 per sq.ft (2024)
• Abdulrazak Street: Rs 3,850 per sq.ft (2024)
• Anthoniya Street: Rs 2,200 per sq.ft (2024)
• Appavoo Naicken Street: Rs 2,700 per sq.ft (2024)
• Arian Street: Rs 2,200 per sq.ft (2024)
• Arumalai Chavadi: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Albert Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Albert Lane?

The Sub Registrar Office that covers Albert Lane is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

Frequently asked questions

What is the current guideline value of Albert Lane?

The current guideline value of Albert Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 492 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, with various increases and decreases across the years.

What is the land classification for Albert Lane?

Albert Lane is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Albert Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.