Guideline Value for Maroof Saheb Street

Maroof Saheb Street guideline value

The current guideline value of Maroof Saheb Street is Rs 5,500 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 II Type - I.

How the guideline value of Maroof Saheb Street has changed

The guideline value for Maroof Saheb Street has seen several revisions over the years. In 2007, the value was Rs 945 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision. Notably, there are no figures available for this street in the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 is 10%. The increase from 2007 to 2012 was substantial at 429%, but it was followed by a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 482%.

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, placing Maroof Saheb Street's 2024 figure below that median.

• Maroof Saheb Lane: Rs 5,500 per sq.ft (2024)
• Massudhi Street / Small Massudhi (Mosque Street & Lane): Rs 6,600 per sq.ft (2024)
• Md. Abdulla 2nd Street: Rs 5,500 per sq.ft (2024)
• Md. Abdullah 1st Lane & Street: Rs 5,500 per sq.ft (2024)
• Md. Abdulla Street: Rs 5,500 per sq.ft (2024)
• Manicka Maistry Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Maroof Saheb Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 Maroof Saheb Street?

The Sub Registrar Office that covers Maroof Saheb Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering properties in Triplicane. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid during the transaction process.

When a property is bought or sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maroof Saheb Street?

The current guideline value of Maroof Saheb Street is Rs 5,500 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 5,500 per sq.ft in 2024, reflecting an overall increase of 482% over the years.

What is the land classification for Maroof Saheb Street?

Maroof Saheb Street is classified as Residential Class II Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Maroof Saheb Street?

The Sub Registrar Office for Maroof Saheb Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Triplicane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.