Guideline Value for Khanabagh 1st Lane

Khanabagh 1st Lane guideline value

The current guideline value of Khanabagh 1st 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 Khanabagh 1st Lane has changed

The guideline value for Khanabagh 1st Lane has seen 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, in 2017, the value dropped to Rs 4,020 per sq.ft, before rising again to Rs 6,000 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Overall, the guideline value has increased by 476% from Rs 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

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, which is equal to the current guideline value of Khanabagh 1st Lane.

• Khana Bagh 2nd Lane: Rs 6,600 per sq.ft (2024)
• Khana Bagh 3rd Lane: Rs 6,600 per sq.ft (2024)
• Khanabagh 4th lane: Rs 6,600 per sq.ft (2024)
• Khanabagh Street: Rs 7,700 per sq.ft (2024)
• Kidabath Khan Street: Rs 6,600 per sq.ft (2024)
• Koya Arunagiri 1st Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Khanabagh 1st 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 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 calculate your stamp duty and registration fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Khanabagh 1st Lane?

The Sub Registrar Office that covers Khanabagh 1st 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 a critical factor during the registration of property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the context of local real estate. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Khanabagh 1st Lane?

The current guideline value of Khanabagh 1st 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 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 properties in Khanabagh 1st Lane?

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

Which Sub Registrar Office handles transactions for Khanabagh 1st Lane?

The Triplicane Sub Registrar Office handles transactions for Khanabagh 1st Lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Khanabagh 1st Lane?

Khanabagh 1st Lane is classified as Residential Class I Type - I, indicating its suitability for residential purposes.