Guideline Value for E DEPOT LANE

E Depot Lane guideline value

The current guideline value of E Depot Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of E Depot Lane has changed

The guideline value of E Depot Lane has seen significant changes over the years. In 2002, the value was Rs 699 per sq.ft, which increased to Rs 777 per sq.ft in 2003, marking an 11% rise. The value further increased to Rs 900 per sq.ft in 2007, showing a 16% change. By 2012, the value reached Rs 3,000 per sq.ft, reflecting a substantial growth of 233% from the previous revision. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%.

The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing a 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 372%. It is important to note that the register has no figure for this street in the 2023 revision.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, indicating that E Depot Lane's 2024 figure is below this median.

• E Depot Street: Rs 3,300 per sq.ft (2024)
• Ekambaram Street: Rs 3,300 per sq.ft (2024)
• East Tank Square Street: Rs 3,300 per sq.ft (2024)
• Elephant Tank 1st Street: Rs 3,300 per sq.ft (2024)
• Elephant Tank 2nd Street: Rs 3,300 per sq.ft (2024)
• Elephant Tank 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in E Depot Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total charges Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers E Depot Lane?

The Sub Registrar Office covering E Depot Lane is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more details.

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

When buying or selling property in Mylapore, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid based on the property’s value.

The guideline value ensures that the property is registered at a fair value, which is essential for legal and taxation purposes. Buyers and sellers must be aware of the current guideline value to accurately calculate their costs during the transaction.

Frequently asked questions

What is the current guideline value of E Depot Lane?

The current guideline value of E Depot Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 699 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is a total increase of 372% over the years.

What is the land classification for E Depot Lane?

E Depot Lane is classified as Residential Class V Type - III, indicating its designation for residential use within the area.

What are the registration fees for property in E Depot Lane?

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

Where is the Sub Registrar Office for E Depot Lane located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.