Guideline Value for Spurtankroad(Mayor V.R.Ramanathan Road)

Spurtankroad(Mayor V.R.Ramanathan Road) guideline value

The current guideline value of Spurtankroad (Mayor V.R.Ramanathan Road) is Rs 13,500 per sq.ft, effective from 1 July 2024. This road is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Commercial Special Type - III.

How the guideline value of Spurtankroad(Mayor V.R.Ramanathan Road) has changed

The guideline value for Spurtankroad has seen several revisions over the years. In 2007, the value was set at Rs 5,000 per sq.ft. This figure increased significantly to Rs 12,300 per sq.ft in 2012, marking a 146% rise. However, from 2012 to 2017, the value decreased to Rs 8,241 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2023 brought the value back up to Rs 12,300 per sq.ft, before reaching the current figure of Rs 13,500 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 170%.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. The guideline value remained at Rs 8,241 per sq.ft in 2017 before the 2023 revision, which set it at Rs 12,300 per sq.ft.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with guideline values for 2024 ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Spurtankroad's current guideline value above this median.

• spurtank Road 2nd lane(logaiyya maistry street): Rs 3,900 per sq.ft (2024)
• South Coovam Salai: Rs 4,400 per sq.ft (2024)
• Soorammal Street: Rs 7,100 per sq.ft (2024)
• Soorammal Lane: Rs 7,100 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)

Stamp duty and registration fee for property in Spurtankroad(Mayor V.R.Ramanathan Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,500 per sq.ft, the total guideline value would be Rs 1,35,00,000. The stamp duty at 7% would amount to Rs 9,45,000, and the registration fee at 2% would be Rs 2,70,000, totaling Rs 12,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Spurtankroad(Mayor V.R.Ramanathan Road)?

The Sub Registrar Office that covers Spurtankroad 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 the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Spurtankroad?

The current guideline value of Spurtankroad (Mayor V.R.Ramanathan Road) is Rs 13,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 5,000 per sq.ft in 2007 to Rs 13,500 per sq.ft in 2024, marking an overall increase of 170%.

What is the land classification for Spurtankroad?

The land classification for Spurtankroad is Commercial Special Type - III, indicating its intended use for commercial activities.

Where can I find the registration office for Spurtankroad?

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

How is the stamp duty calculated for properties in Egmore?

Stamp duty for properties in Egmore is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,35,00,000, the stamp duty would be calculated accordingly.