Guideline Value for Ethiraj Lane

Ethiraj Lane guideline value

The current guideline value of Ethiraj Lane is Rs 13,500 per sq.ft, effective from 1 July 2024. This lane is located in Egmore village under the Periamet SRO and is classified as Commercial Special Type - III.

How the guideline value of Ethiraj Lane has changed

Over the years, the guideline value of Ethiraj Lane has seen significant changes. In the 2007 revision, the value was Rs 6,000 per sq.ft, which increased to Rs 12,300 per sq.ft in the 2012 revision. However, it decreased to Rs 8,241 per sq.ft in the 2017 revision. The 2023 revision marked a substantial increase to Rs 12,300 per sq.ft, and the most recent revision in 2024 has set the value at Rs 13,500 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

The changes between the revisions indicate a +105% increase from 2007 to 2012, followed by a -33% decrease from 2012 to 2017. From 2017 to 2023, there was a significant increase of +49%, and the latest revision from 2023 to 2024 shows a +10% increase. Overall, from 2007 to 2024, the guideline value has increased by +125%.

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 is Rs 7,100 per sq.ft, placing Ethiraj Lane's 2024 figure above this median.

• Ethiraj Salai(a) commander in chief road: Rs 18,100 per sq.ft (2024)
• Elllappa Naicken 2nd lane: Rs 7,100 per sq.ft (2024)
• Ellispuram: Rs 3,400 per sq.ft (2024)
• Ellappa Naicken street: Rs 7,100 per sq.ft (2024)
• Ellappa Naicken 1st lane: Rs 7,100 per sq.ft (2024)
• Gajalakshmi Street: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ethiraj Lane

For a 1,000 sq.ft plot at the current rate of Rs 13,500 per sq.ft, the guideline value would be Rs 1,35,00,000. The stamp duty at 7% would amount to Rs 9,45,000, and the registration fee at 2% would be Rs 2,70,000, totaling Rs 12,15,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ethiraj Lane?

The Sub Registrar Office that covers Ethiraj Lane is 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 plays a crucial role in the registration process of property transactions in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that they are adequately informed about the guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ethiraj Lane?

The current guideline value of Ethiraj Lane is Rs 13,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2007 to Rs 13,500 per sq.ft in 2024, showing an overall increase of +125%.

What is the land classification of Ethiraj Lane?

Ethiraj Lane is classified as Commercial Special Type - III.

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

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

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees can be calculated based on the guideline value or the sale price, whichever is higher. For a detailed calculation, you can use the stamp duty and registration fee calculator.