Guideline Value for Gaffur 2nd Lane

Gaffur 2nd Lane guideline value

The current guideline value of Gaffur 2nd 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 2nd Lane has changed

The guideline value of Gaffur 2nd Lane has seen significant changes over the years. In the 2007 revision, the value was Rs 1,145 per sq.ft, which increased dramatically to Rs 6,000 per sq.ft in 2012. However, it dropped to Rs 4,020 per sq.ft in 2017 before rising to Rs 6,000 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 6,600 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 476%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Triplicane

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

• Gaffur 1st 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 2nd 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, while the registration fee at 2% would be Rs 1,32,000, bringing the total fees together 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.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gaffur 2nd Lane?

The Sub Registrar Office that covers Gaffur 2nd Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

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. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration reflects a fair value for the property being transferred.

Frequently asked questions

What is the current guideline value of Gaffur 2nd Lane?

The current guideline value of Gaffur 2nd 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 significantly from Rs 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 476% over the years.

What is the stamp duty for a property in Gaffur 2nd Lane?

The stamp duty for a property in Gaffur 2nd Lane is 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000.

Which office handles registrations for Gaffur 2nd Lane?

The Triplicane Sub Registrar Office handles registrations for Gaffur 2nd Lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

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 1st Lane, Gaffur 3rd Lane, and Gaffur Street, among others.