Guideline Value for Lal Begum Street

Lal Begum Street guideline value

The current guideline value of Lal Begum Street 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 Lal Begum Street has changed

Over the years, the guideline value of Lal Begum Street has seen significant changes. In 2002, the guideline value was Rs 938 per sq.ft. This increased to Rs 1,029 per sq.ft in 2003, marking a rise of 10%. The value then rose to Rs 1,560 per sq.ft in 2007, which was a substantial increase of 52%. By 2012, the value remained at Rs 6,000 per sq.ft, and there was no figure recorded for the year 2017. In 2023, the guideline value was again Rs 6,000 per sq.ft, with a notable increase to Rs 6,600 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 604%. The most significant rise occurred between 2007 and 2012, where the value surged by 285%. The values for 2012 and 2023 remained unchanged, while the latest revision in 2024 has brought the value to Rs 6,600 per sq.ft.

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, which is equal to the current guideline value of Lal Begum Street.

• Lal Mohammed Cross Street: Rs 6,600 per sq.ft (2024)
• Lal Mohammed Street: Rs 6,600 per sq.ft (2024)
• Lathuram Street: Rs 5,500 per sq.ft (2024)
• Lock Nagar Huts (Dr. Navalar Nagar): Rs 2,700 per sq.ft (2024)
• Lodd Govindas Salai: Rs 6,600 per sq.ft (2024)
• Kuppu Muthu Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Lal Begum Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lal Begum Street?

The Sub Registrar Office that covers Lal 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 when registering property transactions in Triplicane. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees that buyers and sellers must pay.

When purchasing or selling property, the guideline value ensures that the transaction reflects a standard valuation, which is essential for maintaining transparency in the real estate market. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating applicable duties.

Frequently asked questions

What is the current guideline value of Lal Begum Street?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 938 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, which is an overall increase of 604%.

What are the stamp duty and registration fees for a property on Lal Begum Street?

For a property valued at Rs 66,00,000, the stamp duty at 7% would be Rs 4,62,000 and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office is responsible for Lal Begum Street?

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

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

Yes, other streets in Triplicane such as Lal Mohammed Cross Street, Lal Mohammed Street, and Lodd Govindas Salai also have a guideline value of Rs 6,600 per sq.ft in 2024.