Guideline Value for Club road

Club road guideline value

The current guideline value for Club road 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 Club road has changed

Since the 2002 revision, the guideline value for Club road has seen significant changes. In 2002, the value was Rs 1,061 per sq.ft, which increased to Rs 1,170 per sq.ft in 2003, marking a 10% rise. The value then surged to Rs 3,000 per sq.ft in 2007, reflecting a substantial increase of 156%. Following this, the 2012 revision saw a decrease to Rs 12,300 per sq.ft, a drop of 33%. In 2017, the value again rose to Rs 8,241 per sq.ft, an increase of 49%. The 2023 revision set the value at Rs 12,300 per sq.ft, and the most recent revision in 2024 has increased it to Rs 13,400 per sq.ft, which is a 9% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1163%. There are no figures available for the revisions in years other than those listed.

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. The median value for these streets is Rs 7,100 per sq.ft, and Club road's current value is above this median.

• Coovam riverLane: Rs 4,900 per sq.ft (2024)
• Coovam River road: Rs 4,900 per sq.ft (2024)
• Corporation Model Line: Rs 3,400 per sq.ft (2024)
• Damodara MudaliStreet: Rs 11,000 per sq.ft (2024)
• Damodara Murthy lane / road: Rs 11,000 per sq.ft (2024)
• Dams Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Club road

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, while the registration fee at 2% would be Rs 2,68,000. Together, these fees total Rs 12,06,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Club road?

The Sub Registrar Office that covers Club road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

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 state government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Club road?

The current guideline value for Club road 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 1,061 in 2002 to Rs 13,400 in 2024, reflecting an overall increase of 1163% over the years.

What is the stamp duty rate for property in Club road?

The stamp duty rate for property in Club road is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Club road located?

The Periamet Sub Registrar Office, which covers Club road, is located at 1103, Poonamallee High Road, Chennai-600 003.

What are the other streets in Egmore with their guideline values?

Other streets in Egmore include Coovam riverLane at Rs 4,900 per sq.ft, Coovam River road at Rs 4,900 per sq.ft, Corporation Model Line at Rs 3,400 per sq.ft, and Damodara MudaliStreet, Damodara Murthy lane/road, and Dams Road, all at Rs 11,000 per sq.ft.