Guideline Value for Police Lane

Police Lane guideline value

The current guideline value of Police Lane in Cantonment Pallavaram village is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Police Lane has changed

The guideline value for Police Lane has seen several revisions over the years. In 2003, the value was Rs 111 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. Following that, the value jumped to Rs 2,500 per sq.ft in 2012, marking a substantial increase of 733% from the previous revision. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33% from 2012. The value rose again to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there is no figure available for Police Lane in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 2332%.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 11,000 per sq.ft, with the median value being Rs 2,700 per sq.ft. The guideline value for Police Lane aligns with this median.

• Poniyamman Koil Street: Rs 2,700 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,850 per sq.ft (2024)
• Prince Street: Rs 2,700 per sq.ft (2024)
• Periya Palayathamman Koil Street: Rs 3,300 per sq.ft (2024)
• Puviamman Koil Street: Rs 2,750 per sq.ft (2024)
• Queen Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Police Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, together totaling Rs 2,43,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Police Lane?

The Sub Registrar Office that covers Police Lane is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Police Lane?

The current guideline value of Police Lane is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 111 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 2332% over this period.

What is the land classification for Police Lane?

Police Lane is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for Police Lane located?

The Sub Registrar Office for Police Lane is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at Rs 2,700 per sq.ft incurs total fees of Rs 2,43,000.