Guideline Value for Cockrin Basin Lane

Cockrin Basin Lane guideline value

The current guideline value of Cockrin Basin Lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and is classified as Residential Class II Type - I.

How the guideline value of Cockrin Basin Lane has changed

The guideline value for Cockrin Basin Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, this value decreased to Rs 804 per sq.ft in 2017, reflecting a decline of 33%. The value then saw a significant increase to Rs 1,200 per sq.ft in 2023, followed by another rise to the current value of Rs 1,300 per sq.ft in 2024, which is an 8% increase.

There are no figures available for Cockrin Basin Lane in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Cockrin Basin Lane's 2024 figure is below this median.

• Cockran Basin 3rd Lane: Rs 1,300 per sq.ft (2024)
• Cokran Basin 4th Lane: Rs 1,300 per sq.ft (2024)
• Cockran Basin 2nd Lane: Rs 1,300 per sq.ft (2024)
• Cochrane Basin Road: Rs 1,300 per sq.ft (2024)
• Company Chathiram Street: Rs 1,300 per sq.ft (2024)
• Connection Road in between Nehru Nagar to Nethaji Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Cockrin Basin Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. 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 detailed calculations.

Which Sub Registrar Office covers Cockrin Basin Lane?

The Sub Registrar Office that covers Cockrin Basin Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Tondaiarpet. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay during a property transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in the real estate market. It is crucial for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Cockrin Basin Lane?

The current guideline value of Cockrin Basin Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What are the other streets with the same guideline value in Tondaiarpet?

Other streets in Tondaiarpet with the same guideline value of Rs 1,300 per sq.ft include Cockran Basin 3rd Lane, Cokran Basin 4th Lane, Cockran Basin 2nd Lane, Cochrane Basin Road, Company Chathiram Street, and Connection Road in between Nehru Nagar to Nethaji Nagar.

What are the registration fees for property in Cockrin Basin Lane?

The registration fees for property in Cockrin Basin Lane include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Cockrin Basin Lane?

The Sub Registrar Office for Cockrin Basin Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.