Guideline Value for North Lane

North Lane guideline value

The current guideline value of North Lane in Satthankadu village under the Thiruvottiyur SRO is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of North Lane has changed

The guideline value for North Lane has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 3,100 per sq.ft in 2012. However, this figure decreased to Rs 2,077 per sq.ft in 2017. The value then rose to Rs 3,100 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,400 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. Following that, there was a 10% rise from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 580%, reflecting the significant fluctuations in the guideline value over the years.

Guideline values in Satthankadu

In Satthankadu, 71 streets fall under the Thiruvottiyur SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,400 per sq.ft, which matches the guideline value of North Lane.

• North Mada Street: Rs 3,400 per sq.ft (2024)
• North Pattai: Rs 3,400 per sq.ft (2024)
• North PRAGARAM Street: Rs 3,400 per sq.ft (2024)
• New Street: Rs 3,900 per sq.ft (2024)
• Ottravadai Street: Rs 3,400 per sq.ft (2024)
• Padmanabhan colony: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in North Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000. Together, these fees total Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers North Lane?

The Sub Registrar Office that covers North Lane is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Satthankadu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable duties and fees, ensuring that the registration process is compliant with local regulations.

Frequently asked questions

What is the current guideline value of North Lane?

The current guideline value of North Lane is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 580% over this period.

What are the other streets in Satthankadu with the same guideline value?

Other streets in Satthankadu with the same guideline value of Rs 3,400 per sq.ft include North Mada Street, North Pattai, North PRAGARAM Street, Ottravadai Street, and Padmanabhan colony.

What is the stamp duty rate for properties in North Lane?

The stamp duty rate for properties in North Lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.