Guideline Value for Raja Hanumantharayan Lala St

Raja Hanumantharayan Lala St guideline value

The current guideline value of Raja Hanumantharayan Lala St is Rs 6,600 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 Residential Class I Type - I.

How the guideline value of Raja Hanumantharayan Lala St has changed

The guideline value for Raja Hanumantharayan Lala St has seen significant changes over the years. In 2002, the value was Rs 597 per sq.ft, which increased to Rs 655 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 945 per sq.ft, reflecting a 44% increase from the previous revision. The value continued to rise, reaching Rs 6,000 per sq.ft in 2012, a substantial 535% increase from 2007. However, it then dropped to Rs 4,020 per sq.ft in 2017, a decrease of 33%.

The most recent revision in 2024 set the guideline value at Rs 6,600 per sq.ft, which is a remarkable 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 1006%. It is important to note that there is no figure for this street in the 2023 revision.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that have 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 equal to the 2024 figure for Raja Hanumantharayan Lala St.

• Raja Hanumantha Lala St: Rs 6,600 per sq.ft (2024)
• Raja Hanumantha Lala Lane: 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 Hanumantharayan Lala St

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 cost for these fees to 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Hanumantharayan Lala St?

The Sub Registrar Office that covers Raja Hanumantharayan Lala St is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price as per government regulations.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raja Hanumantharayan Lala St?

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

What is the land classification for Raja Hanumantharayan Lala St?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 5,94,000.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Raja Hanumantharayan Lala St is located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014. You can find your SRO online for more details.