Guideline Value for Sheik Dawood Street

Sheik Dawood Street guideline value

The current guideline value of Sheik Dawood 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 is classified as Mixed Type - II land.

How the guideline value of Sheik Dawood Street has changed

Starting from the 2007 revision, the guideline value for Sheik Dawood Street was Rs 1,560 per sq.ft. This figure saw a significant increase in the 2012 revision to Rs 7,000 per sq.ft, marking a rise of 349%. However, in the 2017 revision, the value dropped to Rs 4,690 per sq.ft, which was a decrease of 33%. The guideline value then increased to Rs 7,000 per sq.ft in the 2023 revision, and subsequently rose to Rs 7,700 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 394%. It is important to note that the register has no figures for the years 2002 and 2003 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 guideline value for these streets is Rs 6,600 per sq.ft, placing Sheik Dawood Street's 2024 figure above this median.

• Sheik Gaja Street: Rs 5,500 per sq.ft (2024)
• Sherfuddin Garden 1st Lane: Rs 6,600 per sq.ft (2024)
• Sherfuddin Garden 2nd Lane: Rs 8,800 per sq.ft (2024)
• Sherfuddin Garden Blind Lane: Rs 8,800 per sq.ft (2024)
• Shadi Mahal Othavadai: Rs 5,500 per sq.ft (2024)
• Singa Perumal Koil Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sheik Dawood 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, leading to a total of Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sheik Dawood Street?

Sheik Dawood Street falls under the jurisdiction of the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts 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 that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount based on the property's value.

Frequently asked questions

What is the current guideline value of Sheik Dawood Street?

The current guideline value of Sheik Dawood 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, starting from Rs 1,560 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 394%.

What is the median guideline value in Triplicane?

The median guideline value for the 415 streets in Triplicane under the Triplicane SRO is Rs 6,600 per sq.ft, which is below the current value of Sheik Dawood Street.

What are the stamp duty rates applicable in Sheik Dawood Street?

The stamp duty for property transactions in Sheik Dawood Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Triplicane?

The Triplicane Sub Registrar Office handles property registrations in Triplicane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.