Guideline Value for Fakkir Saheb 3rd Street

Fakkir Saheb 3rd Street guideline value

The current guideline value of Fakkir Saheb 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village under the Triplicane SRO, classified as Residential Class II Type - I.

How the guideline value of Fakkir Saheb 3rd Street has changed

Over the years, the guideline value of Fakkir Saheb 3rd Street has seen significant changes. In 2007, the guideline value was Rs 1,145 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, this figure dropped 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. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2024, the overall change in guideline value is +380%. The changes between the revisions are as follows: from 2007 to 2012, there was a significant increase of +337%; however, the value decreased by -33% from 2012 to 2017. The guideline value then increased by +49% from 2017 to 2023, followed by a +10% increase from 2023 to 2024.

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 guideline value for these streets is Rs 6,600 per sq.ft, placing Fakkir Saheb 3rd Street's 2024 figure below that median.

• Fakkir Saheb 2nd Street: Rs 5,500 per sq.ft (2024)
• Fakkir Saheb Street: Rs 7,700 per sq.ft (2024)
• Fakkir Saheb 1st 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 3rd 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 and the sale price.

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

Which Sub Registrar Office covers Fakkir Saheb 3rd Street?

The Fakkir Saheb 3rd Street falls under the jurisdiction of the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value serves as a reference point for property transactions in Triplicane. When buying or selling property, the guideline value is considered for the calculation of stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the government’s assessment of the property.

It is crucial for buyers and sellers to be aware of the guideline value, as it directly impacts the financial obligations during the registration process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Fakkir Saheb 3rd Street?

The current guideline value of Fakkir Saheb 3rd 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 significantly from Rs 1,145 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, representing an overall increase of +380% over the years.

What is the land classification of Fakkir Saheb 3rd Street?

Fakkir Saheb 3rd Street is classified as Residential Class II Type - I.

Where is the Triplicane Sub Registrar Office located?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Fakkir Saheb 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000.