Guideline Value for Sherfuddin Garden Blind Lane

Sherfuddin Garden Blind Lane guideline value

The current guideline value of Sherfuddin Garden Blind 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 Blind Lane has changed

The guideline value for Sherfuddin Garden Blind Lane has undergone several revisions over the years. Starting from Rs 674 per sq.ft in 2002, it increased to Rs 740 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 8,000 per sq.ft in 2012, reflecting an increase of 981% from the 2003 figure. However, it decreased to Rs 5,360 per sq.ft in 2017, which was a 33% drop. The next revision in 2023 brought the value back up to Rs 8,000 per sq.ft, and the most recent revision in 2024 set it at Rs 8,800 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figure for this street in 2007. Overall, from 2002 to 2024, the guideline value has increased by 1206%.

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, with a median value of Rs 6,600 per sq.ft. The guideline value of Sherfuddin Garden Blind Lane is above this median.

• Sherfuddin Garden 2nd Lane: Rs 8,800 per sq.ft (2024)
• Sherfuddin Garden 1st Lane: Rs 6,600 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 Blind Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total cost for these fees Rs 7,92,000. It is important to note that the 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 Sherfuddin Garden Blind Lane?

The Sub Registrar Office that covers Sherfuddin Garden Blind 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 crucial factor in property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value is used to calculate the applicable fees, which are essential for the legal transfer of ownership. This ensures that all transactions are documented and registered correctly, providing legal protection for both parties involved.

Frequently asked questions

What is the current guideline value of Sherfuddin Garden Blind Lane?

The current guideline value of Sherfuddin Garden Blind 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 674 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 1206% over the years.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, on a property valued at Rs 88,00,000, the total fees would amount to Rs 7,92,000.

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

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

What is the land classification for Sherfuddin Garden Blind Lane?

Sherfuddin Garden Blind Lane is classified as Mixed Type - I land, which is relevant for determining its guideline value and potential uses.