Guideline Value for Pulipone Bazar Street

Pulipone Bazar Street guideline value

The current guideline value of Pulipone Bazar 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 Pulipone Bazar Street has changed

The guideline value for Pulipone Bazar Street 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, marking a rise of 285%. However, it then decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 6,000 per sq.ft in 2023, and most recently increased by 10% to Rs 6,600 per sq.ft in the 2024 revision.

There are no figures available for this street in the years 2002 and 2003. 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 value is Rs 6,600 per sq.ft, which is the same as the current guideline value for Pulipone Bazar Street.

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

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

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pulipone Bazar Street?

The Sub Registrar Office that covers Pulipone Bazar Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are conducted fairly and transparently, adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Pulipone Bazar Street?

The current guideline value of Pulipone Bazar 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 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 period.

What are the stamp duty and registration fees for property in Pulipone Bazar Street?

For a 1,000 sq.ft property, the total guideline value is Rs 66,00,000. The stamp duty is Rs 4,62,000, and the registration fee is Rs 1,32,000, totaling Rs 5,94,000.

Which office handles registrations for Pulipone Bazar Street?

The Triplicane Sub Registrar Office handles registrations for Pulipone Bazar Street, located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014.

What is the land classification for Pulipone Bazar Street?

Pulipone Bazar Street is classified as Residential Class I Type - I, indicating its designation for residential use within the Triplicane area.