Guideline Value for CasaMajor 2nd lane

CasaMajor 2nd lane guideline value

The current guideline value of CasaMajor 2nd lane is Rs 9,300 per sq.ft, effective from 1 July 2024. This lane is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of CasaMajor 2nd lane has changed

The guideline value of CasaMajor 2nd lane has seen several revisions over the years. In 2002, the guideline value was Rs 1,213 per sq.ft. It increased to Rs 1,337 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 2,000 per sq.ft, reflecting a 50% increase. The value further escalated to Rs 8,500 per sq.ft in 2012, a significant jump of 325%. However, it dropped to Rs 5,695 per sq.ft in 2017, representing a decrease of 33%. The value then increased to Rs 8,500 per sq.ft in 2023, and finally reached Rs 9,300 per sq.ft in 2024, showing a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 667%. Notably, there are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Egmore

In Egmore, 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, with a median value of Rs 7,100 per sq.ft. CasaMajor 2nd lane's 2024 figure of Rs 9,300 per sq.ft is above this median.

• CasaMajor 1st 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 2nd lane

For a 1,000 sq.ft plot at the current rate of Rs 9,300 per sq.ft, the guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, totaling Rs 8,37,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers CasaMajor 2nd lane?

The CasaMajor 2nd 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 plays a crucial role during property transactions in Egmore. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price.

When selling a property, the guideline value ensures that the transaction is recorded accurately in the official documents. This helps maintain transparency and provides a reference point for future transactions in the area.

Frequently asked questions

What is the current guideline value of CasaMajor 2nd lane?

The current guideline value of CasaMajor 2nd 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 increased from Rs 1,213 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, reflecting an overall increase of 667% over the years.

Where can I find the registration office for CasaMajor 2nd lane?

The registration office covering CasaMajor 2nd lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 93,00,000, the stamp duty would be Rs 6,51,000 and the registration fee would be Rs 1,86,000, totaling Rs 8,37,000.

What is the land classification for CasaMajor 2nd lane?

CasaMajor 2nd lane is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.