Guideline Value for Nathan Lane/Street

Nathan Lane/Street guideline value

The current guideline value of Nathan Lane/Street is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Commercial Class I Type - I.

How the guideline value of Nathan Lane/Street has changed

The guideline value for Nathan Lane/Street has seen several revisions over the years. The 2012 revision set the value at Rs 8,500 per sq.ft, which was then reduced to Rs 5,695 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 8,500 per sq.ft in 2023, and then further to Rs 9,300 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 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. The median value in this area is Rs 7,100 per sq.ft, placing Nathan Lane/Street's 2024 figure above that median.

• Natesan Street: Rs 3,400 per sq.ft (2024)
• Narismachari street: Rs 3,900 per sq.ft (2024)
• NarayasamyDasary street: Rs 3,900 per sq.ft (2024)
• Narayan NaickenStreet: Rs 10,100 per sq.ft (2024)
• Nawab Street: Rs 9,300 per sq.ft (2024)
• Narayan Naicken 1st street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nathan Lane/Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value would be Rs 93,00,000. The stamp duty, charged at 7%, would amount to Rs 6,51,000, while the registration fee at 2% would be Rs 1,86,000. Together, the total cost for these fees would be Rs 8,37,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nathan Lane/Street?

The Sub Registrar Office that covers Nathan Lane/Street 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 plays a crucial role in the registration process of property transactions in Egmore. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is essential for ensuring that the transaction is recorded accurately and that the appropriate taxes are collected.

When buying or selling property, it is important to understand that the guideline value is the baseline for calculating these fees. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for duty calculations.

Frequently asked questions

What is the current guideline value of Nathan Lane/Street?

The current guideline value of Nathan Lane/Street is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,500 per sq.ft in 2012 to Rs 5,695 per sq.ft in 2017, then increased to Rs 8,500 in 2023, and finally to Rs 9,300 in 2024.

What is the land classification for Nathan Lane/Street?

Nathan Lane/Street is classified as Commercial Class I Type - I, indicating its commercial significance in the area.

Where can I find the Sub Registrar Office for Nathan Lane/Street?

The Sub Registrar Office for Nathan Lane/Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Nathan Lane/Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 93,00,000 would incur a stamp duty of Rs 6,51,000 at 7%.