Guideline Value for Fakkir Saheb 2nd Street

Fakkir Saheb 2nd Street guideline value

The current guideline value for Fakkir Saheb 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Fakkir Saheb 2nd Street has changed

The guideline value for Fakkir Saheb 2nd Street has seen several revisions over the years. In 2007, the value was Rs 1,145 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has risen by 380%. The register does not have 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. The median value for these streets is Rs 6,600 per sq.ft, placing Fakkir Saheb 2nd Street's 2024 figure below that median.

• Fakkir Saheb 1st Street: Rs 7,700 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Fakkir Saheb 2nd Street?

The Sub Registrar Office that covers Fakkir Saheb 2nd 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 details.

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

The guideline value is a crucial factor when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the value of the property as recognized by the local authorities.

Frequently asked questions

What is the current guideline value of Fakkir Saheb 2nd Street?

The current guideline value of Fakkir Saheb 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,145 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Fakkir Saheb 2nd Street?

The land classification for Fakkir Saheb 2nd Street is Residential Class II Type - I.

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

The Sub Registrar Office for Fakkir Saheb 2nd Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.