Guideline Value for Quaide-Millath Salai (Triplicane High Road)

Quaide-Millath Salai (Triplicane High Road) guideline value

The current guideline value of Quaide-Millath Salai (Triplicane High Road) is Rs 14,300 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 Commercial Special Type - IV.

How the guideline value of Quaide-Millath Salai (Triplicane High Road) has changed

The guideline value for Quaide-Millath Salai has seen significant changes over the years. In 2003, the value was Rs 2,021 per sq.ft, which rose to Rs 5,430 per sq.ft in 2007, marking a 169% increase. Following this, the value jumped to Rs 13,000 per sq.ft in 2012, reflecting a 139% increase from the previous revision. However, between 2012 and 2017, the value decreased by 33% to Rs 8,710 per sq.ft. The value then increased to Rs 13,000 per sq.ft in 2023, a 49% rise, and further increased to Rs 14,300 per sq.ft in 2024, representing a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 608%. It is important to note that there is no figure available for the year 2002 in the register for this street.

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 Quaide-Millath Salai's 2024 figure above this median.

• Pycrofts 2nd Lane & Street: Rs 7,700 per sq.ft (2024)
• Pycrofts 1st Lane & Street: Rs 7,700 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 Quaide-Millath Salai (Triplicane High Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. Note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Quaide-Millath Salai (Triplicane High Road)?

The Sub Registrar Office that covers Quaide-Millath Salai 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 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 during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Quaide-Millath Salai?

The current guideline value of Quaide-Millath Salai (Triplicane High Road) is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 2,021 per sq.ft in 2003 to Rs 14,300 per sq.ft in 2024, marking an overall increase of 608% over this period.

What are the stamp duty rates for properties in Quaide-Millath Salai?

The stamp duty rate for properties in Quaide-Millath Salai is 7% of the guideline value or sale price, whichever is higher. Additionally, the registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Quaide-Millath Salai?

The Sub Registrar Office for Quaide-Millath Salai is located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014.

How is the guideline value determined for properties in Triplicane?

The guideline value for properties in Triplicane is determined by the Registration Department and is revised periodically. It reflects the market conditions and land classification in the area.