Guideline Value for Soorammal Lane

Soorammal Lane guideline value

The current guideline value of Soorammal Lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Soorammal Lane has changed

The guideline value for Soorammal Lane has seen several revisions over the years. In 2003, the value was Rs 781 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2007, marking a 92% rise. The value then surged by 333% to reach Rs 6,500 per sq.ft in 2012. However, it decreased by 33% to Rs 4,355 per sq.ft in 2017. Subsequently, the value rose by 49% to Rs 6,500 per sq.ft in 2023, and finally increased by 9% to the current value of Rs 7,100 per sq.ft in 2024.

It is important to note that the register has no figure for Soorammal Lane for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 809%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which is equal to the current value of Soorammal Lane.

• Soorammal Street: Rs 7,100 per sq.ft (2024)
• South Coovam Salai: Rs 4,400 per sq.ft (2024)
• Slum Clearance Board (tenement): Rs 2,800 per sq.ft (2024)
• Siyali Mudali Stret: Rs 7,100 per sq.ft (2024)
• Spurtank Road 2nd lane(logaiyya maistry street): Rs 3,900 per sq.ft (2024)
• Siva Sankaran mudaly salai: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Soorammal Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total fees together Rs 6,39,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Soorammal Lane?

The Sub Registrar Office that covers Soorammal Lane 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 in property transactions in Egmore, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Soorammal Lane?

The current guideline value of Soorammal Lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several revisions, increasing from Rs 781 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 809%.

What is the land classification for Soorammal Lane?

Soorammal Lane is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Soorammal Lane?

The Sub Registrar Office for Soorammal Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Soorammal Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 71,00,000 would incur a stamp duty of Rs 4,97,000 at 7%.