Guideline Value

Corporate

Guideline Value for College Lane

₹8800/sq.ft.

The guideline value for College Lane in Nungambakkam village (Chennai Central Joint Ii SRO, Chennai zone) is Rs 8800 per sq.ft, effective 1 July 2024. It was Rs 8000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nungambakkam

Village

Chennai Central Joint II

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹8800 /sq.ft.
From 1-4-2023 ₹8000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹5360 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹8000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹8230 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony ,cresent Street Alwarpet,chennai -600018
044-24331038
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on College Lane

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College Lane guideline value

The current guideline value of College Lane in Nungambakkam village is Rs 8,800 per sq.ft, effective from the 2024 revision. This street falls under the Chennai Central Joint II SRO and is classified as Residential Special Type - II.

How the guideline value of College Lane has changed

The guideline value for College Lane has seen several revisions over the years. In 2007, the value was Rs 8,230 per sq.ft, which decreased to Rs 8,000 per sq.ft in 2012. Following this, the value dropped significantly to Rs 5,360 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 8,000 per sq.ft, and then rose again by 10% to the current rate of Rs 8,800 per sq.ft in 2024.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 7%.

Guideline values in Nungambakkam

Nungambakkam has a total of 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, which is equal to the current guideline value of College Lane.

Stamp duty and registration fee for property in College Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty, charged at 7%, would be Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. 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 College Lane?

The Sub Registrar Office that covers College Lane is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Nungambakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. This ensures that the transaction is recorded accurately and in accordance with the regulations set by the Registration Department.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain transparency and ensures that all transactions are conducted fairly.

Frequently asked questions

What is the current guideline value of College Lane?

The current guideline value of College Lane is Rs 8,800 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,230 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, with notable fluctuations in between.

What is the land classification for College Lane?

College Lane is classified as Residential Special Type - II under the Chennai Central Joint II SRO.

What are the stamp duty rates for property transactions in College Lane?

The stamp duty rate for property transactions in College Lane is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for College Lane?

The Sub Registrar Office for College Lane is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.