Guideline Value for Lal Mohammed Street

Lal Mohammed Street guideline value

The current guideline value of Lal Mohammed 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 Mohammed Street has changed

The guideline value of Lal Mohammed Street has undergone several revisions over the years. In the 2007 revision, the 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 this street in the 2017, 2003, and 2002 revisions.

As of the 2024 revision, the guideline value increased to Rs 6,600 per sq.ft, marking a 10% rise from the previous year's figure of Rs 6,000 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 598%.

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 is Rs 6,600 per sq.ft, which is equal to the current guideline value of Lal Mohammed Street.

• Lal Mohammed Cross 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 Street

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. Together, the total cost for these fees would be Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lal Mohammed Street?

The Sub Registrar Office that covers Lal Mohammed 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 in property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the legal value of the property. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Lal Mohammed Street?

The current guideline value of Lal Mohammed 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.

Are there any years with no guideline value for Lal Mohammed Street?

Yes, there are no figures available for Lal Mohammed Street in the 2017, 2003, and 2002 revisions.

What are the stamp duty and registration fees for property in Lal Mohammed Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 66,00,000, the total fees would be Rs 5,94,000.

Which Sub Registrar Office covers Lal Mohammed Street?

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