Guideline Value for Egappan Lane

Egappan Lane guideline value

The current guideline value of Egappan Lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Egappan Lane has changed

The guideline value of Egappan Lane has seen significant changes over the years. In the 2003 revision, the value was Rs 663 per sq.ft, which increased to Rs 800 per sq.ft in 2007. The 2012 revision saw a substantial rise to Rs 6,500 per sq.ft, but this was followed by a decrease to Rs 4,355 per sq.ft in the 2017 revision. The value then increased again to Rs 6,500 per sq.ft in 2023, and finally, it reached Rs 7,100 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from the 2003 revision to the current 2024 revision, the guideline value has increased by 971%. There is no figure available for the year 2002 in the register for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the current value for Egappan Lane.

• Egmore High Road: Rs 18,100 per sq.ft (2024)
• East Ramanathan Salai: Rs 13,500 per sq.ft (2024)
• Ellappa Naicken 1st lane: Rs 7,100 per sq.ft (2024)
• Ellappa Naicken street: Rs 7,100 per sq.ft (2024)
• Ellispuram: Rs 3,400 per sq.ft (2024)
• Elllappa Naicken 2nd lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Egappan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. 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 Egappan Lane?

Egappan Lane is covered by 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 crucial factor during the registration of property transactions. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the sale price alone.

When buying or selling property in Egmore, it is essential to be aware of the current guideline value, as it impacts the overall transaction costs. Buyers should ensure that they are prepared for these additional expenses when budgeting for their property purchase.

Frequently asked questions

What is the current guideline value of Egappan Lane?

The current guideline value of Egappan Lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 663 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 971% over these years.

What is the land classification of Egappan Lane?

Egappan Lane is classified as Residential Class II Type - I.

What are the other streets in Egmore with similar guideline values?

Other streets in Egmore with a guideline value of Rs 7,100 per sq.ft include Ellappa Naicken 1st lane, Ellappa Naicken street, and Elllappa Naicken 2nd lane.

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

The Sub Registrar Office covering Egappan Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.