Guideline Value for CasaMajor Road(MainRoad)

CasaMajor Road(MainRoad) guideline value

The current guideline value of CasaMajor Road(MainRoad) is Rs 13,400 per sq.ft, effective from 1 July 2024. This road is located in Egmore village under the Periamet SRO and is classified as Mixed Type - I.

How the guideline value of CasaMajor Road(MainRoad) has changed

The guideline value for CasaMajor Road(MainRoad) has seen significant changes over the years. In the 2002 revision, the value was Rs 1,547 per sq.ft. This increased to Rs 1,706 per sq.ft in 2003, marking a 10% rise. The value continued to rise sharply, reaching Rs 4,500 per sq.ft in 2007, which was a 164% increase from the previous year. The 2012 revision recorded a value of Rs 12,300 per sq.ft, representing a 173% increase from 2007. However, this was followed by a decrease of 33% to Rs 8,241 per sq.ft in 2017.

In the 2023 revision, the guideline value rose to Rs 12,300 per sq.ft, and the most recent revision in 2024 set the value at Rs 13,400 per sq.ft, reflecting a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 766%.

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 Road(MainRoad) has a guideline value that is above this median.

• CasaMajor 3rd lane: Rs 9,300 per sq.ft (2024)
• CasaMajor 2nd lane: Rs 9,300 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 Road(MainRoad)

For a 1,000 sq.ft plot at the current rate of Rs 13,400 per sq.ft, the guideline value would be 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, making the total Rs 12,06,000. It is important to note that 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 Road(MainRoad)?

The Sub Registrar Office that covers CasaMajor Road(MainRoad) 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 is used to determine the stamp duty and registration fees applicable when registering a property. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When you buy or sell property in Egmore, the registration process will require you to pay duties based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of CasaMajor Road(MainRoad)?

The current guideline value of CasaMajor Road(MainRoad) 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, increasing from Rs 1,547 per sq.ft in 2002 to Rs 13,400 per sq.ft in 2024, which is an overall increase of 766%.

What is the role of the Sub Registrar Office in property transactions?

The Sub Registrar Office is responsible for registering property transactions and collecting applicable stamp duty and registration fees. It ensures that all property transactions are legally documented.

How is stamp duty calculated for properties in Egmore?

Stamp duty for properties in Egmore is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for registration fees.

What are the other streets in Egmore with guideline values?

Other streets in Egmore include CasaMajor 3rd lane, CasaMajor 2nd lane, CasaMajor 1st lane, Burial Ground Salai, Chamundeswari kovil 1st street, and Chamundeswari kovil 2nd street, with values ranging from Rs 3,400 to Rs 9,300 per sq.ft in 2024.