Guideline Value for Transport Lane

Transport Lane guideline value

The current guideline value of Transport Lane is Rs 3,900 per sq.ft. This street is located in Egmore village under the Periamet SRO, classified as Residential Class III Type - I.

How the guideline value of Transport Lane has changed

The guideline value of Transport Lane has undergone several revisions over the years. In 2002, the value was Rs 508 per sq.ft, which increased to Rs 560 per sq.ft in 2003, marking a 10% rise. Following this, the value saw a significant increase of 168% to reach Rs 1,500 per sq.ft in 2007. The 2012 revision recorded a value of Rs 3,600 per sq.ft, reflecting a 140% increase from the previous figure. However, in 2017, the value dropped by 33% to Rs 2,412 per sq.ft, before rising to Rs 3,600 per sq.ft in 2023, and then reaching the current value of Rs 3,900 per sq.ft in 2024, which is an 8% increase from the previous year.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 668%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, indicating that Transport Lane's 2024 figure is below this median.

• T.P.Chatram: Rs 3,400 per sq.ft (2024)
• Umayal Street: Rs 11,000 per sq.ft (2024)
• Thulasinga Naicken strreet: Rs 3,900 per sq.ft (2024)
• Thiygappa Mudali 3rd lane: Rs 7,100 per sq.ft (2024)
• Vadiyanathan street: Rs 4,400 per sq.ft (2024)
• Thiyagappa Mudali street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Transport Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty, charged at 7%, would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000. Together, these fees would total Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Transport Lane?

The Sub Registrar Office that covers Transport 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 crucial factor during the registration process when buying or selling property. It determines the amount of stamp duty and registration fees that need to be paid, which are based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both the buyer and seller. This value helps maintain transparency in real estate transactions and is a standard practice in property dealings.

Frequently asked questions

What is the current guideline value of Transport Lane?

The current guideline value of Transport Lane is Rs 3,900 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 508 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 668%.

What is the median guideline value in Egmore?

The median guideline value in Egmore is Rs 7,100 per sq.ft, while Transport Lane's 2024 guideline value is below this median.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registration for Transport Lane?

The Periamet Sub Registrar Office handles registration for Transport Lane, located at 1103, Poonamallee High Road, Chennai-600 003.