Guideline Value for East Street Lane

East Street Lane guideline value

The current guideline value of East Street Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the jurisdiction of the Sembiam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of East Street Lane has changed

The guideline value for East Street Lane has seen several revisions over the years. The earliest recorded figure was Rs 700 per sq.ft in 2007, which significantly increased to Rs 2,000 per sq.ft in 2012. This marked a substantial rise of 186%. The value remained unchanged at Rs 2,000 per sq.ft until the next revision in 2023, when it increased to Rs 2,200 per sq.ft, reflecting a 10% increase.

There are no figures recorded for the years 2002, 2003, and 2017 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 214%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. East Street Lane's 2024 figure is below this median.

• East Street: Rs 2,700 per sq.ft (2024)
• East Railway Gate Cross Lane: Rs 2,200 per sq.ft (2024)
• East Railway Gate: Rs 2,700 per sq.ft (2024)
• Durga Nagar: Rs 3,300 per sq.ft (2024)
• Durga Colony Extension: Rs 3,300 per sq.ft (2024)
• Durga Colony: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in East Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers East Street Lane?

The Sembiam Sub Registrar Office covers East Street Lane, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of East Street Lane?

The current guideline value of East Street Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

Are there any years with no guideline value for East Street Lane?

Yes, there are no figures recorded for East Street Lane in the years 2002, 2003, and 2017.

What are the stamp duty and registration fees for a property in East Street Lane?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for East Street Lane?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for East Street Lane.