Guideline Value for McNicholas road 4th Lane

McNicholas road 4th Lane guideline value

The current guideline value of McNicholas road 4th 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 falls under the Residential Class I Type - II land classification.

How the guideline value of McNicholas road 4th Lane has changed

Over the years, the guideline value of McNicholas road 4th Lane has seen several revisions. The 2007 revision recorded a value of Rs 3,000 per sq.ft, which increased significantly to Rs 10,000 per sq.ft in 2012, reflecting a rise of 233%. However, the value dropped to Rs 6,700 per sq.ft in 2017, marking a decrease of 33%. The 2023 revision set the value at Rs 10,000 per sq.ft, which then rose by 10% to the current rate of Rs 11,000 per sq.ft in 2024.

The changes between these revisions indicate a substantial overall increase of 267% from the 2007 figure to the 2024 figure. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with 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, positioning McNicholas road 4th Lane above this median.

• McNicholas road 3rd lane: Rs 11,000 per sq.ft (2024)
• McNicholas road 2nd lane: Rs 11,000 per sq.ft (2024)
• McNicholas road 1st lane: Rs 11,000 per sq.ft (2024)
• McNicholas road: Rs 18,100 per sq.ft (2024)
• Mayor V.R.Ramanathan 2nd lane: Rs 11,000 per sq.ft (2024)
• Mayor V.R.Ramanathan 1st lane: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in McNicholas road 4th 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, leading to a total of Rs 9,90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers McNicholas road 4th Lane?

The Sub Registrar Office that covers McNicholas road 4th Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Egmore. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official value set by the government.

When buying or selling property, the guideline value must be considered, as it can affect the overall expenses involved in the transaction. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of McNicholas road 4th Lane?

The current guideline value of McNicholas road 4th 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, showing an overall increase of 267% over the years.

What are the stamp duty and registration fees for property in McNicholas road 4th Lane?

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000, and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Which Sub Registrar Office covers McNicholas road 4th Lane?

The Periamet Sub Registrar Office covers McNicholas road 4th Lane, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value in Egmore?

The median guideline value for streets in Egmore is Rs 7,100 per sq.ft, with McNicholas road 4th Lane's value being above this median.