Guideline Value for Sydoji Lane

Sydoji Lane guideline value

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

How the guideline value of Sydoji Lane has changed

The guideline value for Sydoji Lane has seen significant changes over the years. In 2002, the guideline value was Rs 843 per sq.ft, which increased to Rs 925 per sq.ft in 2003, marking a 10% rise. The value then jumped to Rs 1,650 per sq.ft in 2007, reflecting a substantial increase of 78%. Following this, the 2012 revision set the value at Rs 6,000 per sq.ft, which was a remarkable 264% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 6,600 per sq.ft, a 10% increase from 2012.

It is important to note that there are no figures available for the years 2017 and 2023 for this street. Overall, the guideline value has increased by 683% from 2002 to 2024, illustrating a significant upward trend in the value of properties in this area.

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 Sydoji Lane.

• Sydoji South Street: Rs 6,600 per sq.ft (2024)
• Sydoji Street: Rs 6,600 per sq.ft (2024)
• Syed Abdullah Street: Rs 5,500 per sq.ft (2024)
• Syed Noor Street: Rs 5,500 per sq.ft (2024)
• Tajuddin Khan Street: Rs 7,700 per sq.ft (2024)
• Takkuddin Khan Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sydoji Lane

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, calculated at 7%, would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000. Therefore, the total cost for stamp duty and registration fee would be Rs 5,94,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Sydoji Lane?

The Sub Registrar Office that covers Sydoji Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Triplicane. It is the basis for calculating stamp duty and registration fees, which are necessary for legal ownership transfer. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When purchasing property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two amounts. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sydoji Lane?

The current guideline value of Sydoji Lane 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 increased from Rs 843 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting a total increase of 683% over the years.

What are the other streets in Triplicane with similar guideline values?

Other streets in Triplicane with a guideline value of Rs 6,600 per sq.ft in 2024 include Sydoji South Street and Sydoji Street.

What is the stamp duty for property in Sydoji Lane?

The stamp duty for property in Sydoji Lane is calculated at 7% of the guideline value. For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000.

Where can I find the Sub Registrar Office for Sydoji Lane?

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