Guideline Value for Pycrofts 1st Lane & Street

Pycrofts 1st Lane & Street guideline value

The current guideline value for Pycrofts 1st Lane & Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village under the Triplicane SRO, with a land classification of Mixed Type - II.

How the guideline value of Pycrofts 1st Lane & Street has changed

The guideline value for Pycrofts 1st Lane & Street has undergone several revisions over the years. In 2007, the value was Rs 2,760 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012, marking a rise of 154%. However, between 2012 and 2017, the value decreased to Rs 4,690 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 shows a substantial increase to Rs 7,700 per sq.ft, which is a 64% rise from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by 179%. It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for this street.

Guideline values in Triplicane

In Triplicane village, 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 means that the 2024 figure for Pycrofts 1st Lane & Street is above this median.

• Pycrofts 2nd Lane & Street: Rs 7,700 per sq.ft (2024)
• Quaide-Millath Salai (Triplicane High Road): Rs 14,300 per sq.ft (2024)
• Pulipone Bazar Street: Rs 6,600 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Pycrofts 1st Lane & Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. Please 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 Pycrofts 1st Lane & Street?

The Sub Registrar Office that covers Pycrofts 1st Lane & 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 information.

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

The guideline value is a crucial factor when registering property transactions in Triplicane. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transfers.

When a buyer or seller engages in a property transaction, the guideline value ensures that the transaction is recorded at a legally recognized value. This helps maintain transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value for Pycrofts 1st Lane & Street?

The current guideline value for Pycrofts 1st Lane & Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 2,760 per sq.ft to Rs 7,700 per sq.ft in 2024, marking an overall increase of 179% across the revisions.

What is the median guideline value for streets in Triplicane?

The median guideline value for streets in Triplicane is Rs 6,600 per sq.ft, with Pycrofts 1st Lane & Street's value being above this median.

What are the stamp duty and registration fees for property in Pycrofts 1st Lane & Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles property registration for Pycrofts 1st Lane & Street?

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