Guideline Value for Fakkir Saheb 1st Street

Fakkir Saheb 1st Street guideline value

The current guideline value of Fakkir Saheb 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Mixed Type - II land.

How the guideline value of Fakkir Saheb 1st Street has changed

The guideline value for Fakkir Saheb 1st Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,145 per sq.ft, which saw a significant increase to Rs 7,000 per sq.ft in the 2012 revision. However, the value then decreased to Rs 4,690 per sq.ft in the 2017 revision. The 2023 revision marked a return to Rs 7,000 per sq.ft, followed by the current 2024 revision, which increased the value to Rs 7,700 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 572%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value for Fakkir Saheb 1st Street is above this median.

• Fakkir Saheb 2nd Street: Rs 5,500 per sq.ft (2024)
• Fakkir Saheb 3rd Street: Rs 5,500 per sq.ft (2024)
• Fakkir Saheb Street: Rs 7,700 per sq.ft (2024)
• Feroz Saheb Street: Rs 6,600 per sq.ft (2024)
• Fire Wood Bank 1st Street (Old): Rs 2,700 per sq.ft (2024)
• Fire Wood Bank 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Fakkir Saheb 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Fakkir Saheb 1st Street?

The Sub Registrar Office covering Fakkir Saheb 1st Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai(pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Triplicane. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a transaction occurs, the higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Fakkir Saheb 1st Street?

The current guideline value of Fakkir Saheb 1st Street is Rs 7,700 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 1,145 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 572% over the years.

What is the land classification for Fakkir Saheb 1st Street?

Fakkir Saheb 1st Street is classified as Mixed Type - II land, which is a designation used for various types of land usage.

Where can I find the Sub Registrar Office for Fakkir Saheb 1st Street?

The Sub Registrar Office for Fakkir Saheb 1st Street is located at No.182 Bharati Salai(pycrafts Road) Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Triplicane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 77,00,000, the stamp duty at 7% would be Rs 5,39,000.