Guideline Value for savuri muthu lane

Savuri Muthu Lane guideline value

The current guideline value of Savuri Muthu Lane is Rs 6,300 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 II Type - II.

How the guideline value of Savuri Muthu Lane has changed

The guideline value for Savuri Muthu Lane has seen several revisions over the years. In 2002, the value was Rs 601 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2007. Following that, the value rose to Rs 5,800 per sq.ft in 2012, but then dropped to Rs 3,886 per sq.ft in 2017. The value increased again to Rs 5,800 per sq.ft in 2023, and finally reached Rs 6,300 per sq.ft in 2024, marking a 9% increase from the previous year.

Notably, there is no figure available for the year 2003 in the register for this street. The overall change from 2002 to 2024 reflects an increase of 948%, with various fluctuations in between the revisions.

Guideline values in Egmore

In Egmore, 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. The median value for these streets is Rs 7,100 per sq.ft, placing Savuri Muthu Lane's 2024 value below this median.

• Sathya Vani Muthu Nagar (huts): Rs 2,800 per sq.ft (2024)
• Scan IceLIne: Rs 6,300 per sq.ft (2024)
• SchoolRoad: Rs 3,900 per sq.ft (2024)
• Sastri Nagar (All Streets): Rs 3,400 per sq.ft (2024)
• Selvanathan street: Rs 7,100 per sq.ft (2024)
• Sami reddy street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Savuri Muthu Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value amounts to Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total fees together to Rs 5,67,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Savuri Muthu Lane?

The Sub Registrar Office that covers Savuri Muthu 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 when registering property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Savuri Muthu Lane?

The current guideline value of Savuri Muthu Lane is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 601 per sq.ft in 2002 to Rs 6,300 per sq.ft in 2024, reflecting an overall increase of 948% over this period.

What are the other streets in Egmore with their guideline values?

Other streets in Egmore include Sathya Vani Muthu Nagar (huts) at Rs 2,800 per sq.ft, Scan IceLIne at Rs 6,300 per sq.ft, and SchoolRoad at Rs 3,900 per sq.ft, among others.

What is the stamp duty rate for properties in Savuri Muthu Lane?

The stamp duty rate for properties in Savuri Muthu Lane is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Savuri Muthu Lane?

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