Guideline Value for Gazette Begum Street

Gazette Begum Street guideline value

The current guideline value of Gazette Begum Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO, classified as Residential Class II Type - I.

How the guideline value of Gazette Begum Street has changed

In the 2007 revision, the guideline value was Rs 1,421 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a rise of 252%. However, in the 2017 revision, the value dropped to Rs 3,350 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 5,000 per sq.ft in the 2023 revision, followed by a further rise to the current rate of Rs 5,500 per sq.ft in the 2024 revision, which is a 10% increase.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 287%.

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 for these streets is Rs 6,600 per sq.ft, placing Gazette Begum Street's 2024 figure below that median.

• General Patters Road: Rs 15,400 per sq.ft (2024)
• General Petters Lane: Rs 11,000 per sq.ft (2024)
• General Swamy Street: Rs 6,600 per sq.ft (2024)
• Gopal Doss Salai: Rs 6,600 per sq.ft (2024)
• Ganapathy Street: Rs 7,700 per sq.ft (2024)
• Gulam Mohamed Street (Gulam Mohideen Street): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gazette Begum Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, these fees would total Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gazette Begum Street?

The Sub Registrar Office that covers Gazette Begum 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 in property transactions in Triplicane, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is documented accurately and reflects the market conditions. This helps in maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Gazette Begum Street?

The current guideline value of Gazette Begum Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,421 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 287% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office handles transactions for Gazette Begum Street?

The Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014, handles transactions for Gazette Begum Street.

What is the median guideline value for streets in Triplicane?

The median guideline value for streets in Triplicane is Rs 6,600 per sq.ft, with Gazette Begum Street's 2024 figure being below this median.