Guideline Value for Raja Hanumantha Lala Lane

Raja Hanumantha Lala Lane guideline value

The current guideline value of Raja Hanumantha Lala Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This lane is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Raja Hanumantha Lala Lane has changed

The guideline value for Raja Hanumantha Lala Lane has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 597 per sq.ft. This increased to Rs 655 per sq.ft in 2003, marking a 10% rise. In 2007, the value jumped significantly to Rs 945 per sq.ft, reflecting a 44% increase. The 2012 revision saw a decrease to Rs 6,000 per sq.ft, which was a 535% rise from the previous figure, but a drop from the earlier value.

From 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The guideline value then rose to Rs 6,000 per sq.ft in 2023, a 49% increase. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft, representing a 10% increase from the previous year. There are no figures available for revisions in years not listed in the register.

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 for these streets is Rs 6,600 per sq.ft, which is the same as the current guideline value for Raja Hanumantha Lala Lane.

• Raja Hanumantha Lala St: Rs 6,600 per sq.ft (2024)
• Raja Hanumantharayan Lala St: Rs 6,600 per sq.ft (2024)
• Raja Gopal Street: Rs 5,500 per sq.ft (2024)
• Quaide-Millath Salai (Triplicane High Road): Rs 14,300 per sq.ft (2024)
• Pycrofts 2nd Lane & Street: Rs 7,700 per sq.ft (2024)
• Pycrofts 1st Lane & Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Hanumantha Lala 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, while the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raja Hanumantha Lala Lane?

The Sub Registrar Office that covers Raja Hanumantha Lala 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 plays a crucial role in the registration process of property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the transaction process.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Raja Hanumantha Lala Lane?

The current guideline value of Raja Hanumantha Lala 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 597 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1006% across the years.

What is the land classification for Raja Hanumantha Lala Lane?

The land classification for Raja Hanumantha Lala Lane is Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where is the Sub Registrar Office located for this lane?

The Sub Registrar Office for Raja Hanumantha Lala Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014.