Guideline Value for Montieth Road

Montieth Road guideline value

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

How the guideline value of Montieth Road has changed

The guideline value of Montieth Road has seen significant changes over the years. In 2003, the value was Rs 2,527 per sq.ft, which increased to Rs 7,896 per sq.ft in 2007, marking a substantial rise of 212%. The value then changed to Rs 12,300 per sq.ft in 2012, reflecting a 56% increase. However, it dropped to Rs 8,241 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 12,300 per sq.ft in 2023 and then rose to Rs 13,400 per sq.ft in 2024, indicating a 9% increase.

Overall, from 2003 to 2024, the guideline value has increased by 430%. It is important to note that there is no figure available for the year 2002 in the register for this street.

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, with a median value of Rs 7,100 per sq.ft. Montieth Road's 2024 guideline value is above this median.

• Montieth Lane: 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 Road

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, and the registration fee at 2% would be Rs 2,68,000, bringing the total to Rs 12,06,000. It is important to note that 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 Montieth Road?

The Sub Registrar Office that covers Montieth Road 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 during the registration of property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Montieth Road?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 2,527 per sq.ft in 2003 to Rs 13,400 per sq.ft in 2024, an overall increase of 430%.

What is the median guideline value for streets in Egmore?

The median guideline value for streets in Egmore is Rs 7,100 per sq.ft as of 2024.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 12,06,000.

Which office handles registrations for properties on Montieth Road?

The Periamet Sub Registrar Office handles registrations for properties on Montieth Road, located at 1103, Poonamallee High Road, Chennai-600 003.