Guideline Value for CasaMajor 3rd lane

CasaMajor 3rd lane guideline value

The current guideline value of CasaMajor 3rd 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 3rd lane has changed

The guideline value for CasaMajor 3rd lane has seen several revisions over the years. In 2002, the value was Rs 1,213 per sq.ft, which increased to Rs 1,337 per sq.ft in 2003. Following this, the value rose to Rs 2,000 per sq.ft in 2007, and further increased to Rs 8,500 per sq.ft in 2012. However, there was a decrease to Rs 5,695 per sq.ft in 2017. The value then rose to Rs 8,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 9,300 per sq.ft.

Between the revisions, there have been notable changes. From 2002 to 2024, the overall increase is +667%. The jump from 2017 to 2023 was +49%, while the increase from 2023 to 2024 is +9%. The period from 2007 to 2012 saw a significant rise of +325%, and the increase from 2003 to 2007 was +50%. The only revision without a figure for this street is from 2012 to 2017.

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, with a median value of Rs 7,100 per sq.ft. CasaMajor 3rd lane's 2024 figure is above this median.

• CasaMajor 2nd lane: Rs 9,300 per sq.ft (2024)
• CasaMajor Road(MainRoad): Rs 13,400 per sq.ft (2024)
• CasaMajor 1st lane: Rs 9,300 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 3rd 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 be Rs 6,51,000, and the registration fee at 2% would amount to 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 3rd lane?

The Sub Registrar Office that covers CasaMajor 3rd lane 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 crucial factor in property transactions in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees.

Understanding the guideline value is essential for both buyers and sellers, as it directly impacts the costs involved in the transaction. It ensures that the property is registered at a value that reflects its worth according to government assessments.

Frequently asked questions

What is the current guideline value of CasaMajor 3rd lane?

The current guideline value of CasaMajor 3rd 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, showing an overall increase of +667% over the years.

What is the land classification of CasaMajor 3rd lane?

CasaMajor 3rd lane is classified as Commercial Class I Type - I under the land classification system.

Where can I find the registration office for CasaMajor 3rd lane?

The registration office for CasaMajor 3rd lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in CasaMajor 3rd lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 93,00,000 would incur a stamp duty of Rs 6,51,000 at a rate of 7%.