Guideline Value for Stanley Nagar

Stanley Nagar guideline value

The current guideline value of Stanley Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Egmore village under the Periamet Sub Registrar Office (SRO) and is classified as Residential Class IV Type - I.

How the guideline value of Stanley Nagar has changed

Over the years, the guideline value of Stanley Nagar has seen significant changes. The earliest recorded figure in the register is from 2002, where the value was Rs 469 per sq.ft. This increased to Rs 517 per sq.ft in 2003, marking a 10% rise. The value continued to rise, reaching Rs 1,000 per sq.ft in 2007, which was an increase of 93%. By 2012, the value was Rs 2,600 per sq.ft, showing a substantial increase of 160% from the previous revision. However, from 2012 to 2017, the value dropped to Rs 1,742 per sq.ft, reflecting a decrease of 33%.

The upward trend resumed, with the guideline value rising to Rs 2,600 per sq.ft in 2023, an increase of 49% from 2017. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, which is an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 497%. There are no figures available for any other revisions for this street.

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 for these streets is Rs 7,100 per sq.ft, positioning Stanley Nagar's 2024 figure below this median.

• Subbaraya Gramani street: Rs 7,100 per sq.ft (2024)
• Subbarayan 2nd lane: Rs 7,100 per sq.ft (2024)
• Subbarayan 3rd lane: Rs 7,100 per sq.ft (2024)
• Subbarayan ist lane: Rs 7,100 per sq.ft (2024)
• Subbarayan Mudali street: Rs 6,300 per sq.ft (2024)
• Sulaiman Zachiariya street: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Stanley Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Stanley Nagar?

The Sub Registrar Office that covers Stanley Nagar is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Egmore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must consider this value, as it can affect the overall cost of the transaction based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Stanley Nagar?

The current guideline value of Stanley Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 469 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 497% over this period.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Stanley Nagar?

The Periamet Sub Registrar Office covers Stanley Nagar, located at 1103, Poonamallee High Road, Chennai-600 003.

Where can I find more information about guideline values in Egmore?

For more details about guideline values in Egmore, you can refer to the registration department's guideline value register available on TNReginet.