Guideline Value for Pipe Line Lane

Pipe Line Lane guideline value

The current guideline value of Pipe Line Lane in Siruvallur village under the Sembiam SRO is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Pipe Line Lane has changed

The guideline value for Pipe Line Lane has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 357 per sq.ft. This increased to Rs 392 per sq.ft in 2003, marking a 10% rise. The value continued to rise significantly, reaching Rs 800 per sq.ft in 2007, which is a 104% increase. In 2012, the value was Rs 1,500 per sq.ft, reflecting an 88% increase from the previous revision. However, there was a notable decrease to Rs 1,005 per sq.ft in 2017, which represents a 33% drop. The value then surged to Rs 1,500 per sq.ft in 2023, a 49% increase, before reaching the current value of Rs 1,600 per sq.ft in 2024, which is a 7% rise.

There are no figures available for the years not listed in the register for this street. Overall, the guideline value has increased by 348% from 2002 to 2024.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, placing Pipe Line Lane's 2024 figure below that median.

• Pillaiyar Koil Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil 2nd Lane: Rs 1,900 per sq.ft (2024)
• Pillaiyar Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil 1st Lane: Rs 1,900 per sq.ft (2024)
• Ragavachari Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pipe Line Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost to Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pipe Line Lane?

The Sub Registrar Office that covers Pipe Line Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Siruvallur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to assess the transaction. This ensures that the correct fees are applied, based on the higher of the guideline value or the sale price, providing a standardized approach to property transactions.

Frequently asked questions

What is the current guideline value of Pipe Line Lane?

The current guideline value of Pipe Line Lane is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 357 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 348% over this period.

What is the median guideline value in Siruvallur?

The median guideline value for streets in Siruvallur is Rs 1,900 per sq.ft, while Pipe Line Lane's current value is below this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Tamil Nadu is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where is the Sub Registrar Office for Pipe Line Lane located?

The Sembiam Sub Registrar Office, which covers Pipe Line Lane, is located at 5, Papermills Road, Sembiam, Chennai - 600011.