Guideline Value for Gaffur 3rd Lane

Gaffur 3rd Lane guideline value

The current guideline value of Gaffur 3rd 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 3rd Lane has changed

The guideline value for Gaffur 3rd Lane has undergone several revisions over the years. In 2007, the value was Rs 1,145 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, it then decreased to Rs 4,020 per sq.ft in 2017. From 2017 to 2023, the value rose sharply to Rs 6,000 per sq.ft, and in the latest revision for 2024, it increased to Rs 6,600 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for Gaffur 3rd Lane for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 476%.

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 is Rs 6,600 per sq.ft, which is equal to the 2024 figure for Gaffur 3rd Lane.

• Gaffur 2nd Lane: Rs 6,600 per sq.ft (2024)
• Gaffur Street: Rs 6,600 per sq.ft (2024)
• Gaffur 1st Lane: 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 3rd Lane

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the 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, totaling 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gaffur 3rd Lane?

The Sub Registrar Office that covers Gaffur 3rd 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 an essential reference when registering property transactions in Triplicane. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay during the registration process.

When a property is bought or sold, the guideline value helps ensure that the transaction is recorded accurately and transparently, reflecting the official value assigned to the property by the Registration Department.

Frequently asked questions

What is the current guideline value of Gaffur 3rd Lane?

The current guideline value of Gaffur 3rd 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 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 476%.

What are the stamp duty and registration fees for a property in Gaffur 3rd Lane?

The stamp duty for a property valued at Rs 66,00,000 would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles registrations for Gaffur 3rd Lane?

The Triplicane Sub Registrar Office handles registrations for Gaffur 3rd Lane, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the official value assigned to the property is reflected accurately in the registration process.