Guideline Value for Sardarjung Garden 1st Street

Sardarjung Garden 1st Street guideline value

The current guideline value of Sardarjung Garden 1st Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sardarjung Garden 1st Street has changed

The guideline value for Sardarjung Garden 1st Street has seen significant changes over the years. In 2007, the value was Rs 1,145 per sq.ft, which increased dramatically to Rs 6,000 per sq.ft in 2012, marking a rise of 424%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, a drop of 33%. The value then rose to Rs 6,000 per sq.ft in 2023, and subsequently increased by 10% to the current rate of Rs 6,600 per sq.ft in 2024.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 476%.

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 is Rs 6,600 per sq.ft, which is equal to the current guideline value of Sardarjung Garden 1st Street.

• Sardarjung Garden 2nd Street: Rs 6,600 per sq.ft (2024)
• Sardarjung Garden 3rd Street: Rs 6,600 per sq.ft (2024)
• Sardarjung Garden Street: Rs 6,600 per sq.ft (2024)
• Sannathi Street: Rs 6,600 per sq.ft (2024)
• Sami Pillai Street: Rs 5,500 per sq.ft (2024)
• Sami Achari Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sardarjung Garden 1st Street

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 fees together to Rs 5,94,000. 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 Sardarjung Garden 1st Street?

The Sub Registrar Office that covers Sardarjung Garden 1st Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts 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 is a crucial factor during the registration of property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the context of local regulations. It is essential for buyers to be aware of this value to avoid underreporting the sale price, which could lead to legal issues.

Frequently asked questions

What is the current guideline value of Sardarjung Garden 1st Street?

The current guideline value of Sardarjung Garden 1st Street 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 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 476% over the years.

What are the stamp duty and registration fees for property in Sardarjung Garden 1st Street?

The stamp duty is 7% and the registration fee is 2%. For a property valued at Rs 66,00,000, the total fees would amount to Rs 5,94,000.

Which Sub Registrar Office covers Sardarjung Garden 1st Street?

The Triplicane Sub Registrar Office covers Sardarjung Garden 1st Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the median guideline value in Triplicane?

The median guideline value in Triplicane is Rs 6,600 per sq.ft, which is the same as the current guideline value for Sardarjung Garden 1st Street.