Guideline Value for Fire Wood Bank 2nd Street

Fire Wood Bank 2nd Street guideline value

The current guideline value of Fire Wood Bank 2nd Street is Rs 2,700 per sq.ft. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Special Type - V.

How the guideline value of Fire Wood Bank 2nd Street has changed

In the 2007 revision, the guideline value was Rs 945 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a 165% rise. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 186%.

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, indicating that Fire Wood Bank 2nd Street's current value is below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Fire Wood Bank 2nd Street?

The Sub Registrar Office that covers Fire Wood Bank 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 information.

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

The guideline value is a crucial factor during the registration of property transactions. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value will influence the stamp duty and registration fees that need to be paid. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Fire Wood Bank 2nd Street?

The current guideline value of Fire Wood Bank 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 945 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, which is an overall increase of 186%.

What is the stamp duty for property in Fire Wood Bank 2nd Street?

The stamp duty for property in Fire Wood Bank 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Fire Wood Bank 2nd Street?

The Sub Registrar Office for Fire Wood Bank 2nd Street is located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

What are the other streets in Triplicane with guideline values?

Other streets in Triplicane include Fire Wood Bank 1st Street, Feroz Saheb Street, and Fakkir Saheb Street, each with varying guideline values. For example, Fire Wood Bank 1st Street has a guideline value of Rs 2,700 per sq.ft in 2024.