Guideline Value for STEPHENSON LANE

Stephenson Lane guideline value

The current guideline value of Stephenson Lane is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Stephenson Lane has changed

The guideline value for Stephenson Lane has seen several revisions over the years. In 2002, the value was Rs 435 per sq.ft, which increased to Rs 477 per sq.ft in 2003, marking a 10% increase. The value then rose significantly to Rs 800 per sq.ft in 2007, reflecting a 68% increase. Following this, the value surged to Rs 4,000 per sq.ft in 2012, showing a remarkable 400% increase. However, between 2012 and 2017, the value decreased to Rs 2,680 per sq.ft, a reduction of 33%. The value then increased to Rs 4,000 per sq.ft in 2023 before reaching the current rate of Rs 4,300 per sq.ft in 2024, an increase of 8%.

Overall, from 2002 to 2024, the guideline value has increased by 889%. The register has no figures for the years not listed in the revisions.

Guideline values in Perambur

In Perambur village, there are 1114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Stephenson Lane's 2024 figure is above this median.

• Stephenson 1st Street: Rs 4,300 per sq.ft (2024)
• Stephenson Road: Rs 4,300 per sq.ft (2024)
• Subash Chandra Bose Road: Rs 3,800 per sq.ft (2024)
• Subbaraya Mudali Street: Rs 4,300 per sq.ft (2024)
• Subramaniam Koil Street: Rs 4,300 per sq.ft (2024)
• Subramaniam Lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Stephenson Lane

For a 1,000 sq.ft plot at the current rate of Rs 4,300 per sq.ft, the guideline value amounts to Rs 43,00,000. The stamp duty at 7% would be Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, bringing the total to Rs 3,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Stephenson Lane?

The Sub Registrar Office that covers Stephenson Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It is used to determine the stamp duty and registration fees applicable for the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with the registration requirements.

When a property is bought or sold, the guideline value serves as a benchmark for calculating the applicable duties and fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Stephenson Lane?

The current guideline value of Stephenson Lane is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 435 per sq.ft in 2002 to Rs 4,300 per sq.ft in 2024, reflecting a total increase of 889% over the years.

What are the registration fees for property in Stephenson Lane?

For a property valued at Rs 43,00,000, the stamp duty is Rs 3,01,000 at 7%, and the registration fee is Rs 86,000 at 2%, totaling Rs 3,87,000.

Which Sub Registrar Office covers Stephenson Lane?

The Purasaivakkam Sub Registrar Office covers Stephenson Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Stephenson Lane?

Stephenson Lane falls under the Residential Class II Type - I land classification.