Guideline Value for Sunguvar Lane

Sunguvar Lane guideline value

The current guideline value of Sunguvar Lane in Triplicane village, under the Triplicane SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sunguvar Lane has changed

The guideline value for Sunguvar Lane has seen significant changes over the years. In 2002, the guideline value was Rs 549 per sq.ft, which increased to Rs 603 per sq.ft in 2003, marking a 10% rise. The value continued to rise to Rs 1,145 per sq.ft in 2007, reflecting a substantial increase of 90%. By 2012, the value reached Rs 6,000 per sq.ft, representing a remarkable 424% increase from the previous revision. However, it then dropped to Rs 4,020 per sq.ft in 2017, indicating a decrease of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 6,000 per sq.ft, which was a 49% increase. The most recent revision in 2024 saw the value rise to Rs 6,600 per sq.ft, a 10% increase from the previous year. There are no figures available for the revisions in years other than those listed.

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 is Rs 6,600 per sq.ft, which is equal to the current figure for Sunguvar Lane.

• Sunguvar Street (Sunguvar Garden): Rs 6,600 per sq.ft (2024)
• Suparigunta Street: Rs 5,500 per sq.ft (2024)
• Surappa Mudali Street: Rs 6,600 per sq.ft (2024)
• Sundaramurthy Vinayagar Koil Street: Rs 7,700 per sq.ft (2024)
• Subramaniya Vaidiyar Street: Rs 5,500 per sq.ft (2024)
• Sydoji Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sunguvar Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be 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, making the total cost for these fees 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 Sunguvar Lane?

The Sub Registrar Office that covers Sunguvar 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 details.

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

The guideline value is an essential factor when buying or selling property in Triplicane. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sunguvar Lane?

The current guideline value of Sunguvar Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value of Sunguvar Lane has changed significantly, from Rs 549 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1102%.

What is the land classification for Sunguvar Lane?

Sunguvar Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Sunguvar Lane?

The stamp duty is charged at 7%, and the registration fee is at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 5,94,000.

Where is the Sub Registrar Office for Sunguvar Lane located?

The Sub Registrar Office for Sunguvar Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.