Guideline Value for Tailors lane

Tailors lane guideline value

The current guideline value of Tailors lane is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class I Type - II.

How the guideline value of Tailors lane has changed

The guideline value for Tailors lane has seen significant changes over the years. In 2002, the value was Rs 1,055 per sq.ft. It increased to Rs 1,163 per sq.ft in 2003, marking a rise of 10%. By 2007, it jumped to Rs 2,000 per sq.ft, reflecting a substantial increase of 72%. The value then surged to Rs 10,000 per sq.ft in 2012, a remarkable 400% increase. However, it dropped to Rs 6,700 per sq.ft in 2017, a decrease of 33%. The value increased again to Rs 10,000 per sq.ft in 2023, followed by the current value of Rs 11,000 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 943%. There are no figures available for the revisions of years other than those listed.

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 value is Rs 7,100 per sq.ft, and Tailors lane's 2024 figure is above this median.

• Tailos Salai: Rs 15,000 per sq.ft (2024)
• Syful Mulk Nawab Street: Rs 7,100 per sq.ft (2024)
• Syful mulk Nawab 2ndlane: Rs 7,100 per sq.ft (2024)
• syful mulk Nawab 1st lane: Rs 7,100 per sq.ft (2024)
• Tamil Salai: Rs 13,400 per sq.ft (2024)
• Tarapore Avenue: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Tailors lane

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tailors lane?

The Sub Registrar Office covering Tailors 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 critical factor in the registration process when buying or selling property in Egmore. It determines the amount of stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value serves as a benchmark for taxation purposes. Buyers and sellers should ensure they are aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Tailors lane?

The current guideline value of Tailors lane is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,055 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, representing an overall increase of 943%.

What is the land classification for Tailors lane?

Tailors lane is classified as Residential Class I Type - II under the Periamet SRO.

What are the stamp duty and registration fees for property in Tailors lane?

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000, and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Where is the Sub Registrar Office for Tailors lane located?

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