Guideline Value for Feroz Saheb Street

Feroz Saheb Street guideline value

The current guideline value of Feroz Saheb Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the jurisdiction of the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Feroz Saheb Street has changed

The guideline value for Feroz Saheb Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 945 per sq.ft, which significantly increased to Rs 6,000 per sq.ft in 2012. However, it then decreased to Rs 4,020 per sq.ft in 2017. The value rose again to Rs 6,000 per sq.ft in 2023, and finally reached Rs 6,600 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a remarkable 535%, followed by a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 598%.

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 is Rs 6,600 per sq.ft, which is the same as the guideline value for Feroz Saheb Street.

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

Stamp duty and registration fee for property in Feroz Saheb Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Feroz Saheb Street?

The Sub Registrar Office that covers Feroz Saheb 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 plays a crucial role in property transactions in Triplicane. When a property is registered, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the correct amounts are collected based on the value of the property.

In addition, the guideline value serves as a reference point for buyers and sellers during negotiations. It helps in establishing a baseline for the property's worth, aiding both parties in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Feroz Saheb Street?

The current guideline value of Feroz Saheb Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 598% over this period.

What is the stamp duty for property in Feroz Saheb Street?

The stamp duty for property in Feroz Saheb Street is 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 4,62,000.

Where can I find the Sub Registrar Office for Feroz Saheb Street?

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

What is the land classification for Feroz Saheb Street?

The land classification for Feroz Saheb Street is Residential Class I Type - I, indicating its designation for residential use.