Guideline Value for Pulipone Bazar 1st Lane

Pulipone Bazar 1st Lane guideline value

The current guideline value of Pulipone Bazar 1st Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Pulipone Bazar 1st Lane has changed

The guideline value for Pulipone Bazar 1st Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,560 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in 2012, marking a rise of 285%. However, the value then decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 6,000 per sq.ft in 2023, which was a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 6,600 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 323%.

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 guideline value for these streets is Rs 6,600 per sq.ft, which is equal to the 2024 figure for Pulipone Bazar 1st Lane.

• Pulipone Bazar 2nd Lane: Rs 6,600 per sq.ft (2024)
• Pulipone Bazar 3rd Lane: Rs 6,600 per sq.ft (2024)
• Pulipone Bazar Lane: Rs 6,600 per sq.ft (2024)
• Pulipone Bazar Street: Rs 6,600 per sq.ft (2024)
• Pycrofts 1st Lane & Street: Rs 7,700 per sq.ft (2024)
• Pycrofts 2nd Lane & Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pulipone Bazar 1st Lane

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, making the total cost for these fees Rs 5,94,000. It is important to note that the 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 Pulipone Bazar 1st Lane?

The Sub Registrar Office that covers Pulipone Bazar 1st Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrofts 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 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 registration process. The guideline value ensures that the transaction is recorded at a fair value, reflecting the market conditions in the area.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the costs involved. This system helps maintain transparency in property transactions within the Triplicane area.

Frequently asked questions

What is the current guideline value of Pulipone Bazar 1st Lane?

The current guideline value of Pulipone Bazar 1st Lane 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 significantly from Rs 1,560 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 323% over the years.

What are the stamp duty and registration fees for a property in Pulipone Bazar 1st Lane?

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

Which office handles property registration for Pulipone Bazar 1st Lane?

The Triplicane Sub Registrar Office handles property registration for Pulipone Bazar 1st Lane, located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014.

What is the land classification for Pulipone Bazar 1st Lane?

The land classification for Pulipone Bazar 1st Lane is Residential Class I Type - I, indicating its suitability for residential purposes.