Guideline Value for Pycrofts 2nd Lane & Street

Pycrofts 2nd Lane & Street guideline value

The current guideline value of Pycrofts 2nd 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, and falls under the Mixed Type - II land classification.

How the guideline value of Pycrofts 2nd Lane & Street has changed

The guideline value for Pycrofts 2nd Lane & Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 2,760 per sq.ft. This increased significantly to Rs 7,000 per sq.ft in 2012, marking a rise of 154%. However, between 2012 and 2017, the value dropped to Rs 4,690 per sq.ft, a decrease of 33%. The latest revision in 2024 shows a substantial increase to Rs 7,700 per sq.ft, reflecting a rise of 64% from the 2017 figure. Notably, there are no recorded figures for the years 2023, 2003, and 2002 for this street.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 179%. This indicates significant fluctuations in the valuation of property in this area over the years.

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 for these streets is Rs 6,600 per sq.ft, placing Pycrofts 2nd Lane & Street above the median with its current guideline value of Rs 7,700 per sq.ft.

• Pycrofts 1st 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 2nd 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 would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total cost for these fees to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pycrofts 2nd Lane & Street?

The Sub Registrar Office that covers Pycrofts 2nd 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 details.

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

The guideline value plays a crucial role in the registration of property transactions in Triplicane. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Pycrofts 2nd Lane & Street?

The current guideline value of Pycrofts 2nd Lane & Street is Rs 7,700 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 2,760 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 179% over the years.

What is the land classification for Pycrofts 2nd Lane & Street?

Pycrofts 2nd Lane & Street is classified as Mixed Type - II under the land classification system.

Where can I find the Sub Registrar Office for Pycrofts 2nd Lane & Street?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at a rate of 7%.