Guideline Value for Lal Mohammed Cross Street

Lal Mohammed Cross Street guideline value

The current guideline value of Lal Mohammed Cross 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Lal Mohammed Cross Street has changed

The guideline value for Lal Mohammed Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 945 per sq.ft, which saw a significant increase to Rs 6,000 per sq.ft in both the 2012 and 2023 revisions. However, there was no figure available for the years 2002, 2003, and 2017 in the register.

With the 2024 revision, the guideline value increased to Rs 6,600 per sq.ft, marking a 10% rise from the 2023 figure. Overall, the increase from the 2007 revision to the 2024 revision is an impressive 598%.

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 value of Lal Mohammed Cross Street.

• Lal Mohammed Street: Rs 6,600 per sq.ft (2024)
• Lal Begum 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 Mohammed Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total 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, bringing the total fees together 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lal Mohammed Cross Street?

The Lal Mohammed Cross Street falls under the jurisdiction of 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 in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is compliant with local regulations. This value reflects the official rates set by the Registration Department, providing a standardized approach to property transactions.

Frequently asked questions

What is the current guideline value of Lal Mohammed Cross Street?

The current guideline value of Lal Mohammed Cross Street 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 changed from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 598% over the years.

Which Sub Registrar Office covers Lal Mohammed Cross Street?

The Triplicane Sub Registrar Office covers Lal Mohammed Cross Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What are the stamp duty and registration fees for property in this area?

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.

What is the land classification for Lal Mohammed Cross Street?

The land classification for Lal Mohammed Cross Street is Residential Class I Type - I, which is important for determining the usage and development of properties in the area.