Guideline Value for South Lane

South Lane guideline value

The current guideline value of South Lane in Satthankadu village, under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of South Lane has changed

The guideline value for South Lane has seen several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 3,100 per sq.ft in 2012, marking a 520% rise. However, this value decreased to Rs 2,077 per sq.ft in 2017, reflecting a decline of 33%. The value then rose again to Rs 3,100 per sq.ft in 2023, followed by a further increase to Rs 3,400 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 580%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,400 per sq.ft. The guideline value for South Lane matches this median.

• South kinaru street: Rs 3,400 per sq.ft (2024)
• South Pragaram Street: Rs 3,400 per sq.ft (2024)
• Seshachala Gramani Street: Rs 3,400 per sq.ft (2024)
• Srnivasa Nagar: Rs 3,400 per sq.ft (2024)
• Sathuma Nagar(Othavadai): Rs 3,400 per sq.ft (2024)
• Sathangadu High Road (Corner Plots): Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in South Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total to Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers South Lane?

The Sub Registrar Office that covers South Lane is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Satthankadu, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

It is essential to be aware of the guideline value, as it can affect the overall cost of purchasing a property. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of South Lane?

The current guideline value of South Lane is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, marking an overall increase of 580% over the years.

What are the stamp duty and registration fees for properties in South Lane?

For a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 and the registration fee would be Rs 68,000, totaling Rs 3,06,000.

Which office handles property registrations for South Lane?

The Thiruvottiyur Sub Registrar Office handles property registrations for South Lane, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for South Lane?

The land classification for South Lane is Residential Special Type - III, indicating the type of residential use permitted in the area.