Guideline Value for Corporation Model Line

Corporation Model Line guideline value

The current guideline value of Corporation Model Line is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class III Type - II.

How the guideline value of Corporation Model Line has changed

The guideline value for Corporation Model Line has undergone several revisions over the years. The earliest recorded figure is from 2002, which is Rs 601 per sq.ft. This increased to Rs 663 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 1,000 per sq.ft in 2007, which is a 51% jump. Following this, the value surged to Rs 3,100 per sq.ft in 2012, reflecting a remarkable 210% increase from the previous revision.

From 2012 to 2017, the guideline value decreased by 33% to Rs 2,077 per sq.ft. The value then rose substantially by 49% to Rs 3,100 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 3,400 per sq.ft, which is a 10% increase from the previous year. There are no figures available for the revisions of the years not listed.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with 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. The guideline value for Corporation Model Line is below this median.

• Coovam River road: Rs 4,900 per sq.ft (2024)
• Coovam riverLane: Rs 4,900 per sq.ft (2024)
• Club road: Rs 13,400 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 Corporation Model Line

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total to Rs 3,06,000. Please 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 further calculations.

Which Sub Registrar Office covers Corporation Model Line?

The Sub Registrar Office that covers Corporation Model Line 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 critical factor during the registration of property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared against the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Corporation Model Line?

The current guideline value of Corporation Model Line is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 601 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, showing an overall increase of 466% over the years.

What is the land classification for Corporation Model Line?

Corporation Model Line is classified as Residential Class III Type - II under the Periamet SRO.

What are the stamp duty rates for properties in Corporation Model Line?

The stamp duty rate is 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.

Where is the Sub Registrar Office for Corporation Model Line located?

The Sub Registrar Office for Corporation Model Line is located at 1103, Poonamallee High Road, Chennai-600 003.