Guideline Value for Depot Lane

Depot Lane guideline value

The current guideline value of Depot Lane is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Depot Lane has changed

The guideline value for Depot Lane has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it was adjusted down to Rs 2,345 per sq.ft. The value saw a significant increase in the 2023 revision, rising to Rs 3,500 per sq.ft, and then further increased to Rs 3,850 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for Depot Lane in the revisions from 2002, 2003, and 2007.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a total of 81 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 11,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Depot Lane's 2024 guideline value above this median.

• Churuch Road: Rs 3,850 per sq.ft (2024)
• Chidambaranathan Street: Rs 2,700 per sq.ft (2024)
• Cbkm: Rs 3,300 per sq.ft (2024)
• Bharathy Street: Rs 2,700 per sq.ft (2024)
• Bharath Nagar(Semman Nagar): Rs 2,200 per sq.ft (2024)
• Five Huts: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Depot Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Depot Lane?

The Sub Registrar Office that covers Depot Lane is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Cantonment Pallavaram. It is used to determine the amount of stamp duty and registration fees that need to be paid when a property is bought or sold.

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

Frequently asked questions

What is the current guideline value of Depot Lane?

The current guideline value of Depot Lane is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What are the other streets in Cantonment Pallavaram?

Other streets in Cantonment Pallavaram include Churuch Road at Rs 3,850 per sq.ft, Chidambaranathan Street at Rs 2,700 per sq.ft, and Cbkm at Rs 3,300 per sq.ft, among others.

How is stamp duty calculated for property in Depot Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500.

Where is the Sub Registrar Office for Depot Lane located?

The Sub Registrar Office for Depot Lane is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.