Guideline Value for Big Street

Big Street guideline value

The current guideline value of Big Street in Egmore village, under the Periamet SRO, is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is classified as Mixed Type - I.

How the guideline value of Big Street has changed

The guideline value for Big Street has seen significant changes over the years. In 2002, the value was Rs 1,402 per sq.ft, which increased to Rs 1,546 per sq.ft in 2003. Following that, the value rose to Rs 2,000 per sq.ft in 2007, marking a substantial increase of 29%. The guideline value then surged dramatically to Rs 12,300 per sq.ft in 2012, reflecting a 515% increase. However, it dropped to Rs 8,241 per sq.ft in 2017, a decrease of 33%. The value saw a notable rise again to Rs 12,300 per sq.ft in 2023, before reaching the current figure of Rs 13,400 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 856%. The register has no figures for the years between these revisions for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Big Street's current guideline value is above this median.

• Bobers Salai: Rs 7,100 per sq.ft (2024)
• Boopathi Nagar: Rs 3,400 per sq.ft (2024)
• Boopathy Nagar IInd Lane: Rs 3,400 per sq.ft (2024)
• Boopathy Nagar Ist Lane: Rs 3,400 per sq.ft (2024)
• Bootha Perumal Naicken 1st lane: Rs 3,900 per sq.ft (2024)
• Bootha Perumal Naicken street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Big Street

For a 1,000 sq.ft plot at the current rate of Rs 13,400 per sq.ft, the guideline value amounts to Rs 1,34,00,000. The stamp duty at 7% would be Rs 9,38,000, and the registration fee at 2% would be Rs 2,68,000, totaling Rs 12,06,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Big Street?

The Sub Registrar Office covering Big Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded at a value that reflects the current market conditions as determined by the state authorities.

Frequently asked questions

What is the current guideline value of Big Street?

The current guideline value of Big Street is Rs 13,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,402 per sq.ft in 2002 to Rs 13,400 per sq.ft in 2024, reflecting an overall increase of 856% over the years.

What are the stamp duty rates for properties in Big Street?

The stamp duty for properties in Big Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Big Street located?

The Sub Registrar Office for Big Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value of streets in Egmore?

The median guideline value of streets in Egmore is Rs 7,100 per sq.ft, with Big Street's current value being above this median.