Guideline Value for Egmore High Road

Egmore High Road guideline value

The current guideline value of Egmore High Road is Rs 18,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and it falls under the land classification of Commercial Special Type - II.

How the guideline value of Egmore High Road has changed

The guideline value for Egmore High Road has seen significant changes over the years. The earliest recorded revision was in 2002, with a guideline value of Rs 1,200 per sq.ft. This figure increased to Rs 1,323 per sq.ft in 2003, marking a 10% rise. The value further escalated to Rs 4,200 per sq.ft in 2007, reflecting a substantial increase of 217%. In 2012, the value was recorded at Rs 16,500 per sq.ft, which was a decrease of 33% from the previous revision.

From 2012, the guideline value rose to Rs 11,055 per sq.ft in 2017, and this was followed by a significant increase to Rs 16,500 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 18,100 per sq.ft, which is a 10% increase from the previous year. There are no figures available for the revisions in years other than those listed.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value in the village is Rs 7,100 per sq.ft, placing Egmore High Road's 2024 figure above this median.

• Egappan Lane: Rs 7,100 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 Egmore High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 18,100 per sq.ft, the total guideline value would be Rs 1,81,00,000. The stamp duty at 7% would amount to Rs 12,67,000, while the registration fee at 2% would be Rs 3,62,000. Together, the total cost for these fees would be Rs 16,29,000. It is important to 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 more details.

Which Sub Registrar Office covers Egmore High Road?

The Sub Registrar Office that covers Egmore High Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When engaging in a property transaction, it is essential to be aware of the guideline value as it directly impacts the overall cost of the transaction. Buyers and sellers should ensure that they are informed about the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Egmore High Road?

The current guideline value of Egmore High Road is Rs 18,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2002 to Rs 18,100 per sq.ft in 2024, marking an overall increase of 1,408% across the revisions.

What is the land classification for Egmore High Road?

Egmore High Road is classified as Commercial Special Type - II, which influences its guideline value.

Where is the Sub Registrar Office located for Egmore High Road?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a plot valued at Rs 1,81,00,000 would incur a stamp duty of Rs 12,67,000 and a registration fee of Rs 3,62,000.