Guideline Value for Gaffur 1st Lane

Gaffur 1st Lane guideline value

The current guideline value of Gaffur 1st Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Gaffur 1st Lane has changed

The guideline value for Gaffur 1st Lane has seen several revisions over the years. In 2002, the guideline value was Rs 508 per sq.ft. This increased to Rs 558 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 1,145 per sq.ft in 2007, an increase of 105%. By 2012, the value was Rs 6,000 per sq.ft, reflecting a substantial increase of 424% from the previous revision. However, it decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 6,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 6,600 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1199%. There are no figures available for the years not listed in the register for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Gaffur 1st Lane.

• Gaffur 2nd Lane: Rs 6,600 per sq.ft (2024)
• Gaffur 3rd Lane: Rs 6,600 per sq.ft (2024)
• Gaffur Street: Rs 6,600 per sq.ft (2024)
• Gajapathy Lala Street: Rs 5,500 per sq.ft (2024)
• Fire Wood Bank 2nd Street: Rs 2,700 per sq.ft (2024)
• Fire Wood Bank 1st Street (Old): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gaffur 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gaffur 1st Lane?

The Sub Registrar Office that covers Gaffur 1st Lane 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 registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the higher of the guideline value or the sale price is used to calculate the applicable duties and fees. This ensures that the registration reflects an accurate financial commitment based on the established guideline value.

Frequently asked questions

What is the current guideline value of Gaffur 1st Lane?

The current guideline value of Gaffur 1st Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 508 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 1199% over the years.

What are the other streets in Triplicane with similar guideline values?

Other streets in Triplicane with a guideline value of Rs 6,600 per sq.ft include Gaffur 2nd Lane, Gaffur 3rd Lane, and Gaffur Street.

What is the stamp duty rate for properties in Gaffur 1st Lane?

The stamp duty rate for properties in Gaffur 1st Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Gaffur 1st Lane located?

The Sub Registrar Office for Gaffur 1st Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.