Guideline Value for Gurpan Alikhan Street

Gurpan Alikhan Street guideline value

The current guideline value of Gurpan Alikhan Street is Rs 5,500 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 II Type - I.

How the guideline value of Gurpan Alikhan Street has changed

Over the years, the guideline value of Gurpan Alikhan Street has seen several revisions. The 2007 revision set the value at Rs 1,560 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 10%. The overall change from 2007 to 2024 reflects a significant increase of 253%, marking a substantial evolution in the street's valuation over the years.

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 value for these streets is Rs 6,600 per sq.ft, placing Gurpan Alikhan Street's current value below this median.

• Gulam Murthuza Begum Street: Rs 5,500 per sq.ft (2024)
• Gulam Mohamed Street (Gulam Mohideen Street): Rs 5,500 per sq.ft (2024)
• Gurusamy Street: Rs 6,600 per sq.ft (2024)
• Habibullah Sahib Cross Street: Rs 5,500 per sq.ft (2024)
• Habibullah Sahib Street: Rs 5,500 per sq.ft (2024)
• Haji Shaik Hussain 1st Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Gurpan Alikhan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty is charged at 7%, resulting in Rs 3,85,000, while the registration fee at 2% amounts to Rs 1,10,000. Together, these fees total Rs 4,95,000. It's 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 Gurpan Alikhan Street?

The Sub Registrar Office that covers Gurpan Alikhan Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Triplicane

When buying or selling property in Triplicane, the guideline value plays a crucial role in determining the registration fees and stamp duty. These charges are calculated based on the guideline value, ensuring that the transaction is recorded accurately in the official records.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Gurpan Alikhan Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,560 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 253% over the years.

What are the registration fees for property in Gurpan Alikhan Street?

For a 1,000 sq.ft plot at the current guideline value, the total registration fees would amount to Rs 4,95,000, which includes stamp duty and registration fees.

Which office handles property registrations for Gurpan Alikhan Street?

The property registrations for Gurpan Alikhan Street are handled by the Triplicane Sub Registrar Office located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification of Gurpan Alikhan Street?

Gurpan Alikhan Street is classified as Residential Class II Type - I, indicating its designated use for residential purposes.