Guideline Value for CasaMajor 1st lane

CasaMajor 1st lane guideline value

The current guideline value of CasaMajor 1st lane is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Commercial Class I Type - I.

How the guideline value of CasaMajor 1st lane has changed

The guideline value of CasaMajor 1st lane has undergone several revisions since 2002. The earliest recorded value in 2002 was Rs 1,213 per sq.ft, which increased to Rs 1,337 per sq.ft in 2003. Following this, the value rose significantly to Rs 2,000 per sq.ft in 2007, and then saw a substantial jump to Rs 8,500 per sq.ft in 2012. However, it decreased to Rs 5,695 per sq.ft in 2017. In 2023, the value was revised to Rs 8,500 per sq.ft again, and the most recent revision in 2024 set it at Rs 9,300 per sq.ft. There are no figures available for the years between these revisions for this street.

Between the revisions, notable changes include a 10% increase from 2002 to 2003, a 50% increase from 2003 to 2007, a 325% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024. Overall, the guideline value has increased by 667% from 2002 to 2024.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, making the guideline value of CasaMajor 1st lane above the median.

• CasaMajor 2nd lane: Rs 9,300 per sq.ft (2024)
• CasaMajor 3rd lane: Rs 9,300 per sq.ft (2024)
• CasaMajor Road(MainRoad): Rs 13,400 per sq.ft (2024)
• Burial Ground Salai: Rs 3,400 per sq.ft (2024)
• Chamundeswari kovil 1st street: Rs 7,100 per sq.ft (2024)
• Chamundeswari kovil 2nd street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in CasaMajor 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value would be Rs 93,00,000. The stamp duty at 7% would amount to Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total to Rs 8,37,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers CasaMajor 1st lane?

The CasaMajor 1st lane is covered by 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 crucial factor in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of CasaMajor 1st lane?

The current guideline value of CasaMajor 1st lane is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,213 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, marking an overall increase of 667% over the years.

What is the land classification of CasaMajor 1st lane?

CasaMajor 1st lane is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for CasaMajor 1st lane?

The registration office for CasaMajor 1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in CasaMajor 1st lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 6,51,000.