Guideline Value for Scan IceLIne

Scan IceLIne guideline value

The current guideline value of Scan IceLIne is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO, classified as Residential Class II Type - II.

How the guideline value of Scan IceLIne has changed

The guideline value for Scan IceLIne has undergone several revisions over the years. In 2002, the value was Rs 601 per sq.ft, which increased to Rs 663 per sq.ft in 2003. The subsequent revisions saw a significant rise, with the value reaching Rs 1,200 per sq.ft in 2007, and then jumping to Rs 5,800 per sq.ft in 2012. However, it decreased to Rs 3,886 per sq.ft in 2017. The most recent revisions show the value rising to Rs 5,800 per sq.ft in 2023, followed by the current value of Rs 6,300 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was a 10% increase; from 2003 to 2007, an 81% increase; from 2007 to 2012, a significant jump of 383%; a decrease of 33% occurred from 2012 to 2017; an increase of 49% was noted from 2017 to 2023; and finally, a 9% increase from 2023 to 2024. Overall, the guideline value has increased by 948% from 2002 to 2024.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, indicating that Scan IceLIne's 2024 figure is below this median.

• SchoolRoad: Rs 3,900 per sq.ft (2024)
• Savuri Muthu Lane: Rs 6,300 per sq.ft (2024)
• Sathya Vani Muthu Nagar (huts): Rs 2,800 per sq.ft (2024)
• Sastri Nagar (All Streets): Rs 3,400 per sq.ft (2024)
• Selvanathan street: Rs 7,100 per sq.ft (2024)
• Sami reddy street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Scan IceLIne

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value would be Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, totaling Rs 5,67,000. 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 Scan IceLIne?

The Sub Registrar Office covering Scan IceLIne 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 is a crucial factor when registering property in Egmore. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Scan IceLIne?

The current guideline value of Scan IceLIne is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 601 per sq.ft in 2002 to Rs 6,300 per sq.ft in 2024, marking an overall increase of 948% over this period.

What is the land classification for Scan IceLIne?

Scan IceLIne is classified as Residential Class II Type - II, indicating its use for residential purposes.

What are the stamp duty and registration fees for a property in Scan IceLIne?

For a property valued at Rs 63,00,000, the stamp duty would be Rs 4,41,000 and the registration fee would be Rs 1,26,000, totaling Rs 5,67,000.

Where is the Sub Registrar Office for Scan IceLIne located?

The Sub Registrar Office for Scan IceLIne is located at 1103, Poonamallee High Road, Chennai-600 003.