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Guideline Value

Corporate

Guideline Value for McNicholas road 3rd lane

₹11000/sq.ft.

The guideline value for Mcnicholas Road 3rd 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 3rd Lane

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McNicholas road 3rd lane guideline value

The current guideline value for McNicholas road 3rd 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 3rd lane has changed

The guideline value for McNicholas road 3rd lane has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 3,000 per sq.ft. This value saw a significant increase to Rs 10,000 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 6,700 per sq.ft in 2017, which was a 33% drop. The value increased again to Rs 10,000 per sq.ft in 2023, and finally to Rs 11,000 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Egmore

In Egmore village, 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 guideline value for these streets is Rs 7,100 per sq.ft, placing McNicholas road 3rd lane above this median.

Stamp duty and registration fee for property in McNicholas road 3rd 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, while the registration fee at 2% would be Rs 2,20,000. Together, the total cost for these fees would be Rs 9,90,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers McNicholas road 3rd lane?

The Sub Registrar Office that covers McNicholas road 3rd 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 is a crucial factor 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 appropriate revenue from property transactions.

When you register a property, the guideline value will be compared to the sale price, and the higher of the two will be used to determine the applicable duties. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value for McNicholas road 3rd lane?

The current guideline value for McNicholas road 3rd 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 from Rs 3,000 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification for McNicholas road 3rd lane?

The land classification for McNicholas road 3rd lane is Residential Class I Type - II.

Where can I find the Sub Registrar Office for McNicholas road 3rd lane?

The Sub Registrar Office for McNicholas road 3rd lane is the Periamet Sub Registrar Office, 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 guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 11,000 per sq.ft would incur total fees of Rs 9,90,000.