Guideline Value for Sherfuddin Garden 2nd Lane

Sherfuddin Garden 2nd Lane guideline value

The current guideline value of Sherfuddin Garden 2nd Lane is Rs 8,800 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 - I land.

How the guideline value of Sherfuddin Garden 2nd Lane has changed

The guideline value for Sherfuddin Garden 2nd Lane has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,650 per sq.ft. This figure increased significantly to Rs 8,000 per sq.ft in 2012, marking a substantial rise of 385%. However, in 2017, the value decreased to Rs 5,360 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 8,000 per sq.ft in 2023, before reaching the current rate of Rs 8,800 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 433%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

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 Sherfuddin Garden 2nd Lane above this median.

• Sherfuddin Garden 1st Lane: Rs 6,600 per sq.ft (2024)
• Sherfuddin Garden Blind Lane: Rs 8,800 per sq.ft (2024)
• Sheik Gaja Street: Rs 5,500 per sq.ft (2024)
• Sheik Dawood Street: Rs 7,700 per sq.ft (2024)
• Singa Perumal Koil Street: Rs 6,600 per sq.ft (2024)
• Singarachari Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sherfuddin Garden 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total cost for these fees to Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sherfuddin Garden 2nd Lane?

The Sub Registrar Office that covers Sherfuddin Garden 2nd Lane is 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 critical factor when registering property transactions in Triplicane. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps determine the financial obligations associated with the transaction. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sherfuddin Garden 2nd Lane?

The current guideline value of Sherfuddin Garden 2nd Lane is Rs 8,800 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 1,650 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 433% over this period.

What is the stamp duty for property in Sherfuddin Garden 2nd Lane?

The stamp duty for property in Sherfuddin Garden 2nd Lane is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sherfuddin Garden 2nd Lane?

The Sub Registrar Office for Sherfuddin Garden 2nd Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification of Sherfuddin Garden 2nd Lane?

Sherfuddin Garden 2nd Lane is classified as Mixed Type - I land according to the official guidelines.