Guideline Value for Temple street

Temple street guideline value

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

How the guideline value of Temple street has changed

The guideline value for Temple street has undergone several revisions over the years. Starting with the 2002 revision, the value was Rs 824 per sq.ft. This figure increased to Rs 909 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 1,500 per sq.ft in 2007, which was an increase of 65%. In 2012, the guideline value was Rs 10,000 per sq.ft, reflecting a substantial growth of 567%. However, it then decreased to Rs 6,700 per sq.ft in 2017, a decline of 33%. The 2023 revision brought the value back up to Rs 10,000 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 11,000 per sq.ft, an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 1235%. There are no figures available for the revisions in years other than those specified.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Temple street's current guideline value is above this median.

• Tarapore Avenue: Rs 11,000 per sq.ft (2024)
• Tamil Salai: Rs 13,400 per sq.ft (2024)
• Tailos Salai: Rs 15,000 per sq.ft (2024)
• Tailors lane: Rs 11,000 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)

Stamp duty and registration fee for property in Temple street

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

Which Sub Registrar Office covers Temple street?

The Sub Registrar Office that covers Temple street 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 when buying or selling property in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transaction process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable duties. This means that the higher value between the guideline value and the sale price will be taken into account for duty calculations, ensuring that the correct amount is paid to the authorities.

Frequently asked questions

What is the current guideline value of Temple street?

The current guideline value of Temple street 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 from Rs 824 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, with various revisions in between, including a decrease in 2017.

What is the land classification of Temple street?

Temple street is classified as Residential Class I Type - II under the Periamet SRO.

Where can I find the Sub Registrar Office for Temple street?

The Sub Registrar Office for Temple street is located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Temple street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 9,90,000 in duties.