Guideline Value for Hanumantharayan Koil Lane

Hanumantharayan Koil Lane guideline value

The current guideline value of Hanumantharayan Koil Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This lane 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 Hanumantharayan Koil Lane has changed

The guideline value for Hanumantharayan Koil Lane has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 620 per sq.ft. This increased significantly to Rs 1,650 per sq.ft in 2007, marking a change of +166%. The value remained unchanged at Rs 6,000 per sq.ft from 2012 through 2023, before rising to Rs 6,600 per sq.ft in the 2024 revision, which is a change of +10%.

Notably, there are no recorded figures for the years 2003 and 2017 for this street. Overall, from the initial value in 2002 to the current value in 2024, the guideline value has increased by +965%.

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 across these streets is Rs 6,600 per sq.ft, which is the same as the current value for Hanumantharayan Koil Lane.

• Hanumantharayan Koil Street: Rs 6,600 per sq.ft (2024)
• Hakkimmakdam Ashraf Street (H.M.A. Street): Rs 6,600 per sq.ft (2024)
• Haji Shaik Hussain Street: Rs 6,600 per sq.ft (2024)
• Haji Shaik Hussain 2nd Lane: Rs 6,600 per sq.ft (2024)
• Haji Shaik Hussain 1st Lane: Rs 6,600 per sq.ft (2024)
• Habibullah Sahib Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Hanumantharayan Koil 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, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees 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 more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hanumantharayan Koil Lane?

Hanumantharayan Koil Lane is covered by the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process aligns with the official valuation set by the government.

Frequently asked questions

What is the current guideline value of Hanumantharayan Koil Lane?

The current guideline value of Hanumantharayan Koil 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 increased from Rs 620 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, marking an overall increase of +965% over the years.

What is the role of the Triplicane SRO?

The Triplicane SRO is responsible for maintaining the guideline values and facilitating the registration of property transactions in the Triplicane area, including Hanumantharayan Koil Lane.

What fees are associated with buying property in Hanumantharayan Koil Lane?

When buying property in Hanumantharayan Koil Lane, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the higher of the guideline value or the sale price.

Are there other streets with the same guideline value in Triplicane?

Yes, several other streets in Triplicane have the same guideline value of Rs 6,600 per sq.ft, including Hanumantharayan Koil Street, Hakkimmakdam Ashraf Street, and others.