Guideline Value for Stanley Nagar Lane

Stanley Nagar Lane guideline value

The current guideline value of Stanley Nagar Lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Stanley Nagar Lane has changed

In the 2007 revision, the guideline value was set at Rs 600 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 1,200 per sq.ft, marking a 100% increase. The guideline value remained unchanged at Rs 1,200 per sq.ft in the 2023 revision. However, in the latest 2024 revision, it increased to Rs 1,300 per sq.ft, reflecting an 8% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for Stanley Nagar Lane. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Stanley Nagar Lane's 2024 figure below that median.

• Stanley Medical College: Rs 2,200 per sq.ft (2024)
• ST. Saviour Street: Rs 1,300 per sq.ft (2024)
• Subbharya Chetty Street: Rs 1,600 per sq.ft (2024)
• Sudalai Muthu Street: Rs 1,600 per sq.ft (2024)
• Suriya Narayana Chetty 2nd Lane: Rs 2,200 per sq.ft (2024)
• Suriya Narayana Chetty 3rd Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Stanley Nagar Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost together to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Stanley Nagar Lane?

The Sub Registrar Office that covers Stanley Nagar Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, it is essential to consider the guideline value as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly impact the total expenses involved in the property transfer.

Frequently asked questions

What is the current guideline value of Stanley Nagar Lane?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, representing an overall increase of 117%.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Stanley Nagar Lane?

The Royapuram Sub Registrar Office covers Stanley Nagar Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Stanley Nagar Lane?

Stanley Nagar Lane is classified as Residential Class II Type - I, indicating its designation for residential purposes.