Guideline Value for Montieth Lane

Montieth Lane guideline value

The current guideline value of Montieth Lane is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Mixed Type - I land.

How the guideline value of Montieth Lane has changed

The guideline value for Montieth Lane has seen significant changes over the years. Starting from Rs 2,204 per sq.ft in 2003, it rose to Rs 4,000 per sq.ft in 2007, marking an increase of 81%. In 2012, the value was Rs 12,300 per sq.ft, which was a substantial rise of 208% from the previous revision. However, it dropped to Rs 8,241 per sq.ft in 2017, reflecting a decrease of 33%. The value increased again to Rs 12,300 per sq.ft in 2023, and then to the current rate of Rs 13,400 per sq.ft in 2024, which is a rise of 9%.

Overall, from 2003 to 2024, the guideline value has increased by 508%. It is important to note that the register has no figure for Montieth Lane for the year 2002.

Guideline values in Egmore

In Egmore, 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 value is Rs 7,100 per sq.ft, which means Montieth Lane's 2024 figure is above that median.

• Montieth Road: Rs 13,400 per sq.ft (2024)
• Motharappa Venkatasamy Street: Rs 7,100 per sq.ft (2024)
• Mothibaba Lane: Rs 13,400 per sq.ft (2024)
• Mir Madan Ali Street: Rs 7,100 per sq.ft (2024)
• Mir Ashik Hussain Street: Rs 3,900 per sq.ft (2024)
• Muktha Garden: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Montieth Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 13,400 per sq.ft, the total guideline value would be Rs 1,34,00,000. The stamp duty at 7% would amount to Rs 9,38,000, while the registration fee at 2% would be Rs 2,68,000, bringing the total fees to Rs 12,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Montieth Lane?

The Sub Registrar Office that covers Montieth 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 of property transactions in Egmore. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official value set by the government.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Montieth Lane?

The current guideline value of Montieth Lane is Rs 13,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 2,204 per sq.ft in 2003 and reaching Rs 13,400 per sq.ft in 2024, which is an overall increase of 508% over this period.

What are the stamp duty and registration fees for property in Montieth Lane?

For a property valued at Rs 1,34,00,000, the stamp duty would be Rs 9,38,000 and the registration fee would be Rs 2,68,000, totaling Rs 12,06,000.

Which Sub Registrar Office covers Montieth Lane?

The Periamet Sub Registrar Office covers Montieth Lane, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Montieth Lane?

Montieth Lane is classified as Mixed Type - I land, which is important for understanding its usage and potential development.