Guideline Value for OLD HOSPITAL LANE

Old Hospital Lane guideline value

The current guideline value of Old Hospital Lane is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Tiruttani village under the Thiruttani SRO and falls under the Residential Class V Type - I land classification.

How the guideline value of Old Hospital Lane has changed

The guideline value for Old Hospital Lane has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase from Rs 500 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 335 per sq.ft. This shows a significant increase of +49% from 2017 to 2023 and an overall increase of +64% from 2017 to 2024. The register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value, ranging from Rs 548 to Rs 1,540 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, making the guideline value for Old Hospital Lane below that median.

• Old Hospital Street: Rs 825 per sq.ft (2024)
• Old Dharmaraja Koil Street: Rs 825 per sq.ft (2024)
• Old Bazar Street: Rs 770 per sq.ft (2024)
• Nsc Bose Road: Rs 990 per sq.ft (2024)
• Pappireddtyopalli Road: Rs 550 per sq.ft (2024)
• Pappireddtyopalli Road 1st Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Old Hospital Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 Old Hospital Lane?

The Sub Registrar Office that covers Old Hospital Lane is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Tiruttani. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the buying or selling process.

When a property is sold, the guideline value is used to assess the transaction's value for taxation purposes. Buyers and sellers must be aware that the stamp duty is levied on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Old Hospital Lane?

The current guideline value of Old Hospital Lane is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking an overall increase of +64% during this period.

What is the median guideline value for streets in Tiruttani?

The median guideline value for streets in Tiruttani is Rs 825 per sq.ft, with Old Hospital Lane being below this median at Rs 550 per sq.ft.

What are the stamp duty and registration fees for Old Hospital Lane?

For a 1,000 sq.ft plot at the guideline value of Rs 550 per sq.ft, the total fees would be Rs 49,500, which includes stamp duty and registration fees based on the guideline value.

Which office should I contact for registration in Tiruttani?

The Thiruttani Sub Registrar Office handles registrations for Old Hospital Lane, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.