Guideline Value for Pulipone Bazar 2nd Lane

Pulipone Bazar 2nd Lane guideline value

The current guideline value of Pulipone Bazar 2nd Lane 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 Pulipone Bazar 2nd Lane has changed

The guideline value for Pulipone Bazar 2nd Lane has seen several revisions over the years. In 2007, the value was Rs 1,560 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, it dropped to Rs 4,020 per sq.ft in 2017, marking a decrease of 33%. The value then rose sharply to Rs 6,000 per sq.ft in 2023, before reaching the current rate of Rs 6,600 per sq.ft in 2024, reflecting a 10% increase.

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 is Rs 6,600 per sq.ft, which is equal to the current figure for Pulipone Bazar 2nd Lane.

• Pulipone Bazar 1st 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 2nd Lane

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 to Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pulipone Bazar 2nd Lane?

The Sub Registrar Office that covers Pulipone Bazar 2nd 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 critical factor in property transactions in Triplicane, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pulipone Bazar 2nd Lane?

The current guideline value of Pulipone Bazar 2nd 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 from Rs 1,560 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Pulipone Bazar 2nd Lane?

Pulipone Bazar 2nd Lane is classified as Residential Class I Type - I.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Pulipone Bazar 2nd Lane located?

The Sub Registrar Office for Pulipone Bazar 2nd Lane is located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014.