Guideline Value for General Swamy Street

General Swamy Street guideline value

The current guideline value of General Swamy Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of General Swamy Street has changed

The guideline value for General Swamy Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,560 per sq.ft. It increased significantly to Rs 6,000 per sq.ft in 2012, marking a rise of 285%. However, in the 2017 revision, the value dropped to Rs 4,020 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 6,000 per sq.ft in 2023, and most recently, it has increased to Rs 6,600 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 323%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that have a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, which is equal to the current guideline value of General Swamy Street.

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

Stamp duty and registration fee for property in General Swamy Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total cost 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers General Swamy Street?

The Sub Registrar Office that covers General Swamy 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 plays a crucial role in the registration process when buying or selling property in Triplicane. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of General Swamy Street?

The current guideline value of General Swamy Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 323%, starting from Rs 1,560 per sq.ft to the current Rs 6,600 per sq.ft in 2024.

What is the land classification for General Swamy Street?

The land classification for General Swamy Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for General Swamy Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

How is stamp duty calculated for properties on General Swamy Street?

Stamp duty is calculated based on the higher value between the guideline value and the sale price of the property. For instance, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.