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Guideline Value

Corporate

Guideline Value for McNicholas road 2nd lane

₹11000/sq.ft.

The guideline value for Mcnicholas Road 2nd Lane in Egmore village (Periamet SRO, Chennai zone) is Rs 11000 per sq.ft, effective 1 July 2024. It was Rs 10000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Egmore

Village

Periamet

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹11000 /sq.ft.
From 1-4-2023 ₹10000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹6700 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹10000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹3000 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

1103, Poonamallee High Road, Chennai-600 003.
044-25612486
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Mcnicholas Road 2nd Lane

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McNicholas road 2nd lane guideline value

The current guideline value of McNicholas road 2nd lane is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Residential Class I Type - II.

How the guideline value of McNicholas road 2nd lane has changed

The guideline value for McNicholas road 2nd lane has undergone several revisions since 2007. The 2007 revision set the value at Rs 3,000 per sq.ft, which increased significantly to Rs 10,000 per sq.ft in 2012, marking a 233% increase. However, the value decreased to Rs 6,700 per sq.ft in 2017, representing a 33% drop. From 2017 to 2023, the value rose to Rs 10,000 per sq.ft, a notable increase of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 11,000 per sq.ft, reflecting a 10% rise from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Egmore

In Egmore, 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 for these streets is Rs 7,100 per sq.ft, placing McNicholas road 2nd lane's 2024 figure above that median.

Stamp duty and registration fee for property in McNicholas road 2nd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers McNicholas road 2nd lane?

The Sub Registrar Office that covers McNicholas road 2nd lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is used to determine the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of McNicholas road 2nd lane?

The current guideline value of McNicholas road 2nd lane is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 3,000 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 267%.

What is the median guideline value in Egmore?

The median guideline value for streets in Egmore under the Periamet SRO is Rs 7,100 per sq.ft, with McNicholas road 2nd lane's 2024 figure being above this median.

What are the stamp duty and registration fees for McNicholas road 2nd lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,10,00,000, with stamp duty at Rs 7,70,000 and registration fees at Rs 2,20,000, totaling Rs 9,90,000.

Where is the Sub Registrar Office for McNicholas road 2nd lane?

The Sub Registrar Office for McNicholas road 2nd lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.